Columbia Shipmanagement (CSM) reports that Xanthos Kyriacou has become Managing Director of CSM Italy, a new joint venture with Genoa, Italy, based shipowning group Premuda.
Kyriacou has extensive experience of the shipping industry having spent the last 12 years as Commercial Manager of Columbia’s Cyprus operation.
Under the terms of the joint venture, CSM will enter the Italian market and take on the full management of the entire Premuda fleet, currently consisting of 28 ships under the control of the Genoa-based company and Finav, a fund for credit management in the shipping sector established by Davy Global Fund Management, with the support of Pillarstone Italy.
Premuda will be a shareholder in CSM Italy.
Within the framework outlined, and once trade-union consultation procedures have been concluded, CSM Italy will provide full ship management and maritime services.
As well as managing the Premuda fleet, CSM Italy will offer a full range of management and maritime services to the entire Italian maritime cluster.
The share capital of CSM Italy will be potentially open to other Italian owners and operators .
“I am delighted to be leading CSM Italy as we look forward to working with existing and potential clients in this key maritime hub,” said Kyriacou. “The Italian shipping industry is well established and so it was a natural step for Columbia Shipmanagement to establish a local presence to support our clients. CSM Italy will provide the highest quality and professional management services by continuing to provide added-value through our commitment to be world-class ship managers.”
Mark O’Neil, CEO of Columbia Shipmanagement, said: “It is a great pleasure to welcome Xanthos Kyriacou as Managing Director at CSM Italy. Local representation in Italy means we can maintain high standards of support to our clients in the region more effectively and more efficiently.”