Due diligence for the deal between the two German-born Cyprus-based companies is now complete, he said, and completion is simply awaiting regulatory approval from anti-competitive authorities in countries where both have concerns. important presences – including Cyprus and Germany – with green light possible from June.
The new entity would be called Columbia-Marlow, on the grounds that it combines the names in alpha order, and would be involved in the management of more than 1,500 ships, which would be the largest number of all ship managers, said O’Neil, current chairman of CSM and former head of the German maritime team at international law firm Reed Smith.
However, the number of vessels managed is not always the most accurate guide to the actual size of a vessel manager, some observers point out, and in the case of Columbia-Marlow, only around 500 vessels would be under full management. the rest under crew management only.
The number of crews is another indicator of size, and the combined Columbia-Marlow total would be 24,000 out of a joint seafaring pool of around 35,000, Marlow Navigation chief executive Jan Meyering said during of the same conference, hosted by Seatrade as part of the Exposhipping Expomaritt Istanbul. Event.
For comparison, V.Ships says on its website that it operates around 1,100 ships and offshore vessels, employing 37,000 seafarers, while Anglo-Eastern Univan is said to have around 27,000 seafarers.
But it is certain that any Columbia-Marlow merger would be a new power in the industry, reaffirming Cyprus’s claims to be the world’s leading center for the management of third-party ships.
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