Five years after agreeing to pool forces to create a third-party management giant, Columbia Shipmanagement and Marlow Navigation shed the last vestiges of a merger that never got off the ground.
The two Cyprus-based companies “completed securing regulatory approval” for their de-merger, Marlow said in a statement.
“As is well known in the industry, despite originally declaring their intention to consider [a] 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,” Marlow said.
