- Management proposes dividend from
$0.110per share for Q3 2022
- Q3 2022 sales of
$31.5 millionand EBIT of $11.9 million
- Q3 2022 Average TCE Sales: Panamax
$18,520Medium-sized $24,200and distribution fleet $13,170
- Total sales backlog of
$563 million109% more than at the end of the second quarter of 2022 $143 millionof the additional revenue backlog signed so far in Q4 2022
- Positioned to capture a historically strong market with 14%/38% days open in 2023/24
- Favorable market prospects with high charter rates and long contract terms
- Agreement to acquire mid-size vessel Paglia to support higher dividend payouts and capitalize on growth opportunities
“We continue to execute on our strategic priorities by signing new long-term contracts at historically high daily rates and providing our customers with safe, efficient operations and quality logistics services. This has resulted in a significant increase in our order backlog during the second half of 2022, which supports future earnings growth and visibility for continued increased dividend payments in line with our stated policy of paying out at least 50% of net income on a quarterly basis. We are on track for a planned uplisting to Euronext Oslo Børs later this year, which is expected to further broaden our investor base,” said Georg A. Whist, CEO of GCC.
Operating income in the third quarter of 2022 from
The entire GCC fleet was operational in the third quarter, with the exception of the Viking Emerald, which was undergoing the planned second special survey and repairs. The average fleet TCE was
The company estimates a cash flow breakeven rate of
The Board of Directors has proposed a cash dividend of
The company will be around today
You can register for the presentation using the following link:
Questions can be asked online during the presentation.
The third quarter report and presentation are attached to this press release and are available on the company’s website. A recording of the presentation will also be made available.
For more information please contact:
Head of Projects and IR Mas Gram
GCC is the world’s third largest tonnage provider in the pure car carrier (PCTC) segment with 18 vessels in the distribution, mid-size and
This information is subject to disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act.
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