Columbia Group and Zhejiang Port Leasing have recently deepened their cooperative relationship.

On May 18, Columbia Group announced that it has been formally mandated to manage three newly built Aframax tankers, marking a new level in the partnership between the two parties. These three vessels are expected to enter service upon completion at their respective shipyards.

The Group stated that CSM (Singapore) will provide technical management for the three vessels currently under construction. This mandate further consolidates the existing cooperation between the two sides, signifying a natural deepening of the partnership, and adds new members to Columbia Group's tanker management fleet.

Zhejiang Port Leasing is widely recognized within the industry as a fast-growing and ambitious maritime financial leasing company, dedicated to building a modern, high-quality fleet and focused on collaborating with experienced international partners. Its business model combines financial strength with a clear commitment to operational excellence and long-term asset performance.

CSM will be responsible for crew management, technical operations, compliance assurance, and overall performance management following vessel delivery. This increasingly reflects Columbia Group's comprehensive ability to support shipowners and leasing companies across the full lifecycle of a vessel, encompassing everything from newbuilding supervision and delivery preparation to safe, efficient, and commercially oriented operational management.

Notably, this cooperation also marks the first significant transaction concluded under Columbia Group's new leadership team. In April this year, Mark O'Neil stepped down as CEO of both Columbia Group and Schoeller Holdings. Andreas Hadjipetrou, who has worked at Columbia Group for nearly 30 years, was appointed as the new CEO; Demetris Chrysostomou, the Group's current CEO for Asia, was appointed Deputy CEO.

Chrysostomou stated: "We look forward to providing Zhejiang Port Leasing with safe and efficient ship management services and to continuing to deepen our partnership. Our focus will be on ensuring a smooth transition for the three vessels from construction to operations, upholding high standards of safety, and delivering consistent, high-efficiency performance across the operations of all three ships."

Zhejiang Port Leasing is a wholly state-owned financial leasing enterprise under Zhejiang Provincial Seaport Group and Ningbo-Zhoushan Port Group. Last August, the company signed a Memorandum of Understanding with Columbia Group.

Leveraging the integrated expertise and comprehensive services of Columbia Group and its affiliates, Zhejiang Port Leasing aims to comprehensively enhance the operational efficiency, safety standards, and profitability of the fleet it finances. The scope of cooperation encompasses a full range of services including technical and crew management, insurance and claims support, legal consultancy, e-learning, ship finance, chartering, newbuilding supervision, and shipyard audits.