Photo: Illustration. Image by Navingo

V.Group takes over management of 41 Costamare boxships

British ship management and marine support services provider V.Group and Greek shipping company Costamare Shipping have strengthened and expanded their existing strategic partnership.

As informed, the expanded strategic partnership will see V.Group providing a range of management and other marine services from Shanghai and Greece to 41 container vessels associated with Costamare Inc. and its CEO Konstantinos V. Konstantakopoulos.

V.Group said the partnership will enable it to further strengthen its existing business in Greece and also expand the collaboration with Costamare into the ever-growing Chinese market.

As part of this move, Shanghai Costamare Ship Management Co., Ltd. will be integrated into V.Group’s office in Shanghai providing additional expertise in the container market.

As part of the partnership, V.Group will enhance its manning services in the Philippines through C-Man Maritime and will provide Filipino crew for the Costamare managed fleet. V.Group will thus become the exclusive provider of Filipino seafarers to Costamare managed vessels as well as continuing to serve the needs of its existing Greek clients.

“With this agreement, we will further utilize the flexibility offered by 3rd party ship management, enabling Costamare Inc. to take advantage of market fluctuations without being constrained by capacity restrictions on the management side,” Konstantinos V. Konstantakopoulos, President of Costamare, explained.

Founded in 1984, V.Group manages tankers, bulkers, gas carriers, containerships, cruise and passenger vessels worldwide.

Costamare Shipping Company serves as the manager of Costamare Inc. fleet.