Ship manager Wallem sets up Singapore unit
January 31, 2013 Category Logistics, Ports & sea transport
Burgeoning growth in specialist ship management services is leading Hong Kong-based Wallem Group to open its first ship management and broking operation in Singapore. Captain Deepak Honawar, Director of Wallem Shipmanagement, said launching in Singapore would provide more space for the company to grow its Hong Kong ship management business. “Ships call more frequently at Singapore than Hong Kong” to refuel and change crews, he said. As a result, it was likely some of the ships currently managed from Hong Kong, along with technical staff, will be transferred to the Singapore operation. “This will make room for expansion in Hong Kong,” Honawar said. Wallem manages more than 400 ships globally including tankers, dry cargo bulk carriers, container ships and vehicle carriers on behalf of shipowners. Honawar said the company saw a net increase in its managed fleet of about 40 ships last year. The move into Singapore comes six months after Wallem formed a ship management joint venture with Chinese shipowner Nanjing Tanker in Singapore. Honawar said the partnership, NW Shipmanagement, had 16 tankers in its fleet and the tie-up would give Wallem the opportunity to recruit more Chinese officers with tanker experience. He said NW Shipmanagement was the latest of several joint ventures Wallem had with shipowners including Cosco in Qingdao, and Fesco and ID Maritime in Hong Kong. Honawar will become Managing Director of Wallem Singapore, moving to the city state in February ready for Wallem Shipmanagement (Singapore) and Wallem Commercial Services to launch in April, the South China Morning Post reports.
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