Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
WETULA JOHN J
   2. Issuer Name and Ticker or Trading Symbol
GRAFTECH INTERNATIONAL LTD [GTI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Adv. Energy Tech.
(Last)
(First)
(Middle)
C/O GRAFTECH INTERNATIONAL LTD., 12900 SNOW ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
12/29/2006
(Street)

PARMA, OH 44130		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               51,539 D (1)  
Common Stock               21,484 D (2)  
Common Stock               18,000 D (3)  
Common Stock 12/29/2006   J V 53 A $ 6.6 5,072 I By Savings Plan (4)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance option (right to buy) $ 7.6               (5) 01/25/2007 Common Stock 2,155   2,155 D  
Time options (right to buy) $ 7.6             08/15/1995 01/25/2007 Common Stock 8,145   8,145 D  
Time options (right to buy) $ 39.31               (6) 02/10/2007 Common Stock 2,000   2,000 D  
Time options (right to buy) $ 37.59             02/10/1997 02/10/2007 Common Stock 15,000   15,000 D  
Time options (right to buy) $ 17.06               (7) 09/28/2008 Common Stock 10,000   10,000 D  
Time options (right to buy) $ 25.13             06/30/2001 06/30/2009 Common Stock 35,000   35,000 D  
Time options (right to buy) $ 14             02/28/2005 02/28/2010 Common Stock 20,000   20,000 D  
Time options (right to buy) $ 8.56             12/15/2002 12/15/2010 Common Stock 35,000   35,000 D  
Time options (right to buy) $ 8.85               (8) 09/25/2011 Common Stock 32,000   32,000 D  
Stock options (right to buy) $ 6.56               (9) 12/31/2008 Common Stock 105,000   105,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
WETULA JOHN J
C/O GRAFTECH INTERNATIONAL LTD.
12900 SNOW ROAD
PARMA, OH 44130		       President, Adv. Energy Tech.  

Signatures

 /s/Gary R. Whitaker, Attorney-in-Fact for John J. Wetula   01/04/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Such shares, granted on May 25, 2005, are subject to a two-year cliff vesting period.
(2) Of such shares, granted on August 31, 2005, under the Company's Long Term Incentive Plan, one-third vested on August 31, 2006. The remaining two-thirds will vest on each of August 31, 2007 and 2008. The shares were reported as acquired on the grant date.
(3) On October 23, 2006, the Company granted 18,000 restricted shares under the Company's Management Long Term Incentive Program, all of which will cliff vest in February 2010, subject to accelerated vesting in equal thirds in February of each of 2008, 2009 and 2010, if certain performance targets are met.
(4) Represents the number of units attributable to the reporting person's participation through Company matching contributions in the Company Stock Fund option of the UCAR Carbon Savings Plan. The 53 units reported in this transaction correspond to 50 shares of Common Stock at a price of $6.92 per share.
(5) Of such options, 992 vested on August 15, 1995 and 1,163 vested on December 8, 1997.
(6) 500 of such options became exercisable on each of May 2, 1996 and August 28, 1997. The remaining 1,000 options vested on February 10, 2005.
(7) Of such options, 3,333 vested on each of May 21, 1999 and July 14, 1999 and the remaining 3,334 on September 29, 1999.
(8) Of such options, 4,000 vested on September 25, 2001 and 28,000 vested on September 25, 2003.
(9) On November 30, 2005, the Company approved, under the terms of the Company's Long Term Incentive Plan, an accelerated vesting date for such options of November 30, 2005.

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