The joint venture CSM Italy, based in Genoa, will see Premuda, which is controlled by Pillarstone providing support for companies in difficulty, as a shareholder. The joint venture will manage all 28 ships in Premuda’s fleet, as well as offering third party ship management services in Italy.
Full ship management services will be offered once trade-union consultation procedures have been concluded.
Mark O'Neil, president and ceo of CSM said: “We believe we are the right partner for a company in strong growth, to which we can ensure economies of scale, digital solutions and operational optimisation. CSM Italy will stand ready and willing to serve other Italian operators, in all of the maritime sectors, providing them with a tailored service to meet their particular needs and involving them in the development of the company from the outset.”
Gaudenzio Bonaldo Gregori, ceo of Pillarstone Italy, commented: "Today's operation represents a further step in Premuda's development and reaffirms the strong commitment we have towards the Italian shipping sector, where we have become a very important player."
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