Two Cypriot managers have ditched their nuptials after a lengthy five-year engagement, though they say they will remain friends.
Columbia Shipmanagement and Marlow Navigation formed a holding entity in 2017 at a time when shipmanagement was going through an extensive consolidation period. Five years on, however, the pair continue to work as separate entities and have this week decided to cease merger plans.
“As is well known in the industry, despite originally declaring their intention to consider merger in September 2017, and the subsequent legal incorporation of a Columbia Marlow holding entity, both companies continued to successfully operate entirely independently and follow separate business development strategies. The exploratory intention to merge was therefore amicably abandoned,” Marlow stated.
Despite this merger setback, Splash understands the shipmanagement sector is primed for another significant period of consolidation in the coming months with talks under way to bring some of the most famous names in the industry together.