Around 1970 SITMAR ceased owning its fleet directly, with vessels registered through group companies; Rosanoski suggests it may then have acted as charterer, but is unsure whether the company or only the brand continued. Sitmar Cruises Inc. was established in 1980 and sold to P&O in 1988, later becoming Princess Cruise Lines Liberia Inc. in 1991. The source disputes an account placing a swan-logo replacement immediately after Boris’s death: it may confuse the cruise-company transition. A swan “S” was reportedly on Fairstar shortly before P&O’s takeover. Rosanoski expected corresponding flags for the swan and dolphin funnel logos, but had no confirmed flag evidence.
The V Group originated with Alexandre Vlasov, who left Russia for Bucharest with his family in 1917 and entered shipping through the coal industry. He became a minor partner in Romania Prima Societate Nationale de Navigazione Maritima in the late 1920s and a major shareholder in 1933. Renamed Alexandre Vlasov Societate de Navigazione in 1934, it continued trading under its earlier name. That year he also formed Societe Commerciale et d’Armement S.A. (SCOMAR) in Greece; its last vessel, Olga, was broken up in 1968.
British expansion brought Campden Hill Steam Ship Co. Ltd. in 1936, The Alva Steamship Co. Ltd. in 1937 and the managers and brokers Navigation & Coal Trade Co. Ltd. An Alexandria business founded in 1934 later became Overseas Shipping & Coal Trade Co. Ltd. Moving to Italy, Vlasov formed Società Italiana Trasporti Marittimi SpA (SITMAR) at Milan on 10 April 1938. That acronym had previously belonged to Società Italiana de Servizi Marittimi, wound up in 1931; the two must not be confused. During the war he moved to Argentina and formed Compañia Argentina de Navegacion de Ultramar S.A. and subsidiary Compania Sud Americana de Export & Import in 1941. SITMAR lost its fleet in the war; Alvion Steamship Corporation was also temporarily shipless. Navcot Corporation followed in New York in 1949, and the group headquarters moved to Genoa in 1952.
After Alexandre’s death in 1961, Boris Vlasov took over and moved the headquarters to Monaco. Sources give 1983 for formation as Vlasov Group and 1984 for V Group, followed by the names Vlasov Services Corporation and, in 2001, V. Ships Group. The frequently cited 1938 origin instead corresponds to SITMAR’s formation. Half was sold to management in 1986; from 1994 the stated holdings were Vlasov 40%, senior management 40% and G.E. Capital 20%. CBPE acquired 45% in 2003. Boris died in 1987, after which family control diminished.
Astramar SpA, formed in 1985, was later sold to Princess Cruises. Sitmar Cruises was sold to P&O, dated 1989 in one history but 1988 in other passages; the remaining group concentrated on cargo ships, tankers and ship management. V. Ships Leisure returned to cruise activity in 1993, marketed through Phoenix Reisen under the Albatross name. A Silversea joint venture with the Lefebvre family is also described, but Rosanoski expressly questions the claim that it subsequently became wholly owned by the Vlasov heirs. Expansion in management services included Celtic Marine in October 1998, VSL Shipbroking in 1999, SSM & BCI and Andhika JVC in 2000, Acomarit in January 2001, AMA/Clancey Sons & Stacey in 2002 and International Tanker Management Holdings in 2009.
The group combined ship management, commercial and agency services, leisure-vessel management and corporate financial services; later organisation distinguished Ship Management, Leisure and Manpower Services alongside Marine Services and Capital. Operating interests included Alva Steamship through Sitmar, Massoel Gestion and Silver Line. SITMAR’s ships later appeared in individual Fairland, Fairline, Fairsea, Fairstar and Fairwinds companies under Shipping Management S.A.M.; the listings associate these with Fairland, Fairsky, Fairsea, Fairstar and Fairwind, with differing Fairsky allocations. These are retained as corporate listings rather than treated as separate livery histories.
The regional management companies evolved through several mergers and name changes. Navcot became V. Ships USA in 1989 and merged with International Marine Carriers in 1996 as V Ships Marine, renamed American V Ships Marine in 1999. V Ships Management was formed in October 1998 from Celtic Marine and Shipping Management S.A.M., becoming V. Ships Monaco S.A.M. in 2001; another listing instead connects Shipping Management with a 2001 Leisure renaming. Acomarit became V. Ships Switzerland in 2001, its Singapore operation became V. Ships (Asia) in January 2002, and the UK businesses merged at Glasgow in 2001. V. Ships Cyprus originated in 1990 and altered its name in 2002; Dubai was formed in 1994 and Florida in 1997. V. Ships Leisure, separately dated 1993, merged with Martinoli SAM in August 2005. The source’s overlapping Shipping Management, Monaco and Leisure succession accounts are not silently reconciled.
Joint interests included China International Shipmanagement, formed in February 2006 by V Ships (Asia) and China Shipping Container Lines; Fraser Yachts Worldwide, acquired with Azimut/Benetti in September 2004; and Mideast Ship Management, formed in Dubai in 1996 with The National Shipping Co. of Saudi Arabia. V. Ships Norway was formed in Oslo in 1989 with L. Gill-Johanessen A/S; a later account records Close Bros. holding 45%. Unicom Management Services (Cyprus) and Bahamas Fast Ferries Services also appear as interests or associates.
Romania, Bucharest, and Italy, Milan in the earlier sources; London for A. Vlassov in Brown; Monaco, Monte Carlo in the 1998 listing.