Car carrier will earn more

SEPTEMBER 25, 2012 — Norwegian Car Carriers ASA reports that it has entered into a time charter contract for its 100 percent-owned car carrier NOCC Pamplona for a duration of about 6 months, commencing in early November 2012.

NOCC says the concluded time charter rate is higher than the rate on the current charter and will generate an EBITDA of about NOK 9.0 million (about $156 million) during the six months charter period.

Built in 2000, NOCC Pamplona has a capacity of 4,287 cars and has 10 decks, three of which are designed for trucks/high and heavy cargo. NOCC describes the vessel as “a very efficient mid size car carrier trading at about 19.5 knots speed with a low fuel consumption of about 43 tons/day.”