NOCC Extends Charter Contracts for Two Car Carriers

Norwegian Car Carriers ASA has extended the current time charter contracts for NOCC Kattegat, a 5,253 CEU car carrier built in 2004, and NOCC Caspian, a 5,387 CEU car carrier built in 1987. 
For NOCC Kattegat the new time charter contract has a duration of about 12 months and is in direct continuation of the existing contract expiring in the middle of November 2013. The concluded  charter will generate an EBITDA of about NOK 20.9 million during the twelve months charter period.
For NOCC Caspian the time charter contract has a duration of about 5 months and is in direct continuation of the existing contract expiring in December 2013. The concluded charter will generate an  EBITDA of about NOK 5.9 million during the five months charter period.
Engebret Dahm, CEO at NOCC comments: We are pleased to have concluded charter extensions with two of our core customers at, on average, improved charter rates.
NOCC, November 5, 2013