NOCC: New charter contracts for two car carriers

Two partnerships, in which NOCC has an ownership share of 56% and 34%, have entered into new time charter contracts for MV Dyvi Adriatic and MV Dyvi Baltic with a duration of about 14 months. The charter rates reflect a gradually stronger car carrier market.

The two vessels are bareboat chartered in for a fixed period up to March 2012 with options to extend the charter until March 2019. The concluded charters secure employment for the vessels for the remaining fixed bareboat charter period.

The two vessels' long term time charters were terminated against a compensation in December 2010 and both vessels have since the charter termination completed a scheduled drydocking.

An updated company presentation is today posted on NOCC's website www.noccasa.no.

About NOCC:
Norwegian Car Carriers ASA is a shipping company listed on the Oslo Stock Exchange. The company has a fleet of 15 vessels for the transportation of cars and other rolling cargoes.

NOCC - Norwegian Car Carriers ASA, press release