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Gram Car Carriers orders up to eight newbuilds from Jinling Shipyard

Photo: Scott Graham - Unsplash Signing_contract
Gram Car Carriers is to order four 7,000 CEU dual-fuel pure car carriers from China Merchants Jinling Shipyard with the options of another two plus two vessels.

Gram Car Carriers (GCC) will support the establishment of Global Auto Carriers for the purpose of ordering and management of the new vessels, acting as commercial manager for its fleet of newbuilds.

Georg A. Whist, CEO of Gram Car Carriers, commented: We are proud to have supported the foundation of Global Auto Carriers by leveraging our market connections to create attractive additional revenue streams for GCC and the potential for a meaningful future equity stake. We have done so without adding any capital expenditure, true to our strategy of being a vessel owner with long-term contracts.

The shipbuilding contracts for the four vessels are scheduled to be entered into early Q2 2022, with expected delivery from the fourth quarter of 2025 through the fourth quarter of 2026. 

Three of the option vessels have expected to be delivered in 2027 and the fourth one in 2028.