Columbia and Premuda join forces
Could it be the beginning of a wonderful friendship? The Italian ship-owning Group Premuda, controlled by Pillarstone, a financial platform supporting companies in temporary difficulty, has found a partner in Columbia Shipmanagement (CSM).
Under the joint venture agreement, 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 Genoese company and Finav, the fund for credit management in the shipping sector established by Davy Global Fund Management, with the support of Pillarstone Italy.
Premuda, which has offices in Cyprus, Singapore, Germany and Shanghai and recently opened new branches in Riyadh and Athens, will be a shareholder in the new company, which will be called CSM Italy and be based in Genoa. (cd)