Columbia Group wins management deal for Zhejiang Seaport Aframax trio

Columbia Group has been appointed by Zhejiang Seaport Financial Leasing (ZSFL), a subsidiary of Zhejiang Seaport Group, to manage three Aframax tanker newbuilds currently under construction.

Technical management will be handled by Columbia Shipmanagement (CSM) Singapore. Under the terms of a letter of appointment signed in April, the firm will be responsible for full technical operations, crew management, compliance, and performance monitoring once the vessels are delivered. Specific details regarding the tankers’ specifications and delivery dates have not been disclosed.

The appointment strengthens the ties between the Cyprus-based ship and crew management group and China’s fast-growing maritime finance leasing company. The deal aligns with Columbia’s strategic objective to expand its presence across Asian markets. Meanwhile, ZSFL continues to grow its portfolio of modern tonnage through partnerships with international operators, integrating financial backing with a focus on operational excellence and long-term asset performance.

“Our focus will be on ensuring a smooth transition from construction to operations, maintaining high safety standards, and delivering consistent, efficient performance across the three vessels,” said Columbia Group deputy chief executive Demetris Chrysostomou.

The contract follows a memorandum of understanding (MoU) signed between the parties last year. The companies have since been working together to develop a comprehensive framework covering technical and crew management, insurance and claims support, legal advisory, e-learning, vessel financing, chartering, newbuild supervision, and shipyard audits.

The broader initiative aims to streamline operations for bareboat charterers, minimise off-hire incidents, and foster smooth vessel transitions during ownership changes. It also seeks to achieve economies of scale for ZSFL and its clients through standardised processes and shared service platforms.