VIKING CONSTANZA © Marc Ottini

Gram Car Carriers signed agreement to sell two PCTC's

Ro-roGram Car Carriers has signed an agreement to sell two PCTC's, the VIKING CONSTANZA (2,000 CEU, built 2010) and the VIKING PRINCESS (1,000 CEU, built 1996), for a total cash consideration of USD 43.5 million to modernise the fleet and capitalise on historically high second-hand vessel values.

GCC expects to recognise a total book gain of USD 19 million upon completion of the sale of the two vessels, with the VIKING CONSTANZA to be delivered to the new owner in the fourth quarter of 2023 and the VIKING PRINCESS to be delivered in the first quarter of 2024. The buyer of the two vessels is an undisclosed European-based vehicle logistics company.

“The transaction supports our strategy of owning and operating a modern fleet which reflects the demand from our customers, the world’s leading operators of PCTC tonnage. We are capturing additional value in a historically strong car shipping market and will free up capital to both strengthen our balance sheet and support dividend distributions in line with our policy of paying 75% of net income,” said Georg A. Whist, the CEO of GCC.

Data on VIKING CONSTANZA and VIKING PRINCESS in the Shippax Database

Aug 04 2023