Tsakos Columbia Shipmanagement, founded in 2010, has come to a close.
Time has been called on the joint venture between the Greek owner and the German/Cypriot manager with Columbia set to sell its stake in the company, which will then be rebranded. The company had been providing technical and crew management to more than 60 Tsakos ships.
“This leaves both companies free to pursue their own business development strategies,” a press statement said.
In October last year Columbia and Marlow Navigation called off their merger plans after a lengthy five-year engagement.
Despite this merger setback, Columbia has been busy expanding its global footprint.
In June last year the company signed an agreement with Aurus Ship Management to explore shipmanagement opportunities in the Indian market.
Aurus has now been renamed Columbia Aurus Ship Management (CASM), offering recruitment of crew, purchasing, payroll management and technical services.
Columbia has made similar moves around the world, joining forces with Monaco-based Sea World Management a year ago and with Saudi Arabia’s Spectrum in 2021.
Another area of expansion has been in finance. In May last year subsidiary Columbia Finance Solutions took a stake in Ahorn Capital, a Hamburg-based platform for institutional and professional investors.
