Diana Wilhelmsen Management (DWM) — a third-party commercial and technical manager of dry bulk vessels — has moved its headquarters from Cyprus to Greece.
The move has been made with the aim of tapping Greek clients, who are showing an appetite for hiring third-party managers, according to Carl Schou, chief executive of Wilhelmsen Ship Management (WSM).
Wilhelmsen founded DWM six years ago as a 50/50 joint venture with Diana Shipping, a US-listed dry bulk company based in Athens.
DWM started operations managing some Diana vessels and was planning to expand its client base.
However, it has not yet been able to realise that ambition. It currently has five vessels under management, all owned by Diana.
“With the new strategic location, we are in a better position to strengthen our relationship with current owners and potential clients,” Schou said in a statement.
Greek shipowners have been traditionally reluctant to entrust their vessels to third-party ship managers. In recent years, however, they have been warming to the idea.
V.Ships, in particular, has been able to tap that interest through strategic partnerships with companies such as Costamare and Empros Lines.
DWM’s move from Limassol to Athens has already taken place, with the company operating out of an office building on Sygrou Avenue, separately from Diana.
DWM continues to be headed by Dimos Halcoussis, who took over as general manager in October last year. Halcoussis, a marine engineer who also studied business administration, has held several positions within the WSM group and other companies over the past 20 years.
Ship management apart, WSM already has a “strong client base” in Greece through its ship inspection service, a statement said.
