Columbia Shipmanagement enters Italian market in joint venture with Premuda

Cyprus-based Columbia Shipmanagement (CSM) is entering the Italian market after agreeing a joint venture which will see it take on the full management of the entire Premuda fleet. Group Premuda has a fleet of 28 vessels. It is currently controlled by Pillarstone, an industrial and financial platform that supports the relaunch of companies in temporary difficulty.

Under a joint venture agreement announced last Friday October 23rd, Premuda will be a shareholder in the new company, which will be called CSM Italy and will be based in Genoa.

Within the framework outlined, and once trade-union consultation procedures have been concluded, CSM Italy will provide full shipmanagement and maritime services.

CSM Italy will offer management and maritime services to the entire Italian maritime cluster. Columbia said that the share capital of CSM Italy potentially will be open to other participants – Italian owners and operators – willing to join the spirit of such an initiative.