Gram Car Carriers ASA

Gram Car Carriers signs 5-year TC for Viking Sea adding USD 55.8 million of contract backlog

Oslo, 4 July 2022: Gram Car Carriers ASA ("GCC") is pleased to announce that the

company has signed a five-year contract with Zim Integrated Shipping Services

Ltd. ("Zim") for the mid-size vessel MV Viking Sea (4,200 CEU), until the

fourth quarter of 2027.

The agreed contract has an average dayrate of USD 30,612 over the charter

period, providing a total contract value of approximately USD 55.8 million. The

Viking Sea is currently on a 12-month timecharter to a wholly owned subsidiary

of Zim until October 2022, trading mainly between Far East Asia and Europe. The

new contract will commence in direct continuation to the current charter.

Georg A. Whist, the CEO of GCC, commented: "We are pleased to continue to

increase our contract backlog with new timecharters with leading operators. This

confirms the favourable market fundamentals and supports our long-term earnings

visibility and ability to provide direct shareholder returns through attractive

dividends."

GCC has 3%, 45% and 70% revenue days open for 2022, 2023 and 2024, respectively,

following this latest contract.

For further information, please contact:

CEO Georg A. Whist

Telephone: +47 41 60 16 81

CFO Gunnar S. Koløen

Telephone: +65 9176 6661

About Gram Car Carriers:

GCC is the world's third-largest tonnage provider within the Pure Car Truck

Carriers (PCTCs) segment with 18 vessels, across the Distribution, Mid-size and

Panamax segments. The Company serves as a trusted provider of high-quality

vessels and logistics solutions ensuring safe, efficient and punctual shipment

of vehicles for a network of clients comprising of major global and regional

PCTC operators.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

Section 5-12 the Norwegian Securities Trading Act. This stock exchange release

was published by Mas Gram, Head of Projects at Gram Car Carriers, on 4 July 2022

at 17.53 CEST.

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