P.D. Gram & Co. AS

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P.D. Gram & Co. AS is a Norwegian company specializing in arranging and managing shipping and real estate investments, primarily in car carriers and specialized tankers.

P.D. Gram & Co. AS is normally the commercial manager of the investments. Several of the investments are bareboat chartered and daily operations are handled by the charterer. For vessels trading on timecharter or in the spot market, P.D. Gram & Co. AS contracts out the maritime management, including crewing, insurance and technical maintenance to first class ship managers. While different management organizations have been used for this purpose, the closest connection is with C.H. Sørensen & Sønner of Arendal, Norway. This is a traditional and highly regarded Norwegian shipping company which through its associated company C.H. Sørensen Management AS has technical management of 14 vessels, including tankers, Obo's, LPG vessels, car carriers, reefers and bulk carriers. C.H. Sørensen has ownership positions in approximately half the ships under management. The technical management of the P.D.Gram & Co's vessels not leased out on bareboat charter is now being handled by C.H. Sørensen Management AS, Arendal. Peter D. Gram is Chairman of C.H. Sørensen and is a major shareholder in the company. P.D. Gram & Co. AS' management tasks is defined in the management agreement entered into with each shipowning company. Normally it includes all commercial aspects of the operation, including financing, cash management, chartering of the vessels and operational follow-up. However, the number of tasks vary from project to project.

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