World-class ship management and maritime services provider, Columbia Shipmangement (CSM) is pleased to announce that Xanthos Kyriacou has taken over as Managing Director of CSM Italy, the new joint venture with CSM and the Italian ship-owning Group Premuda.

Mr Kyriacou has extensive experience of the shipping industry having spent the last 12 years as Commercial Manager of CSM’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 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 will be a shareholder in the new company, which will be called CSM Italy and based in Genoa.

Within the framework outlined, and once trade-union consultation procedures have been concluded, CSM Italy will provide full ship management and maritime services.
Other than management of 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 participants – Italian owners and operators – willing to join the spirit of such an initiative.

Mr Kyriacou said of his appointment: “I am delighted to be leading CSM Italy as we look forward to working with existing and potential clients in this key maritime hub. 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.”