Car carriers are severely undervalued judging by the latest unprecedented charter rates, analysts believe.

Shipping investment banks have been ripping up their daily earning assessments as term deals for two Gram Car Carriers vessels were revealed at “exceptionally high” and “mind-boggling” levels.

Gram Car Carriers stretched a deal for the 6,700-ceu panamax Viking Adventure (built 2016) at a whopping $60,000 per day for five years, well ahead of analyst assumptions and up from $45,000 in May.