Wallem Group and the giant China Cosco Shipping group have revealed a new cooperation deal in ship management.
Hong Kong manager Wallem said a strategic collaboration agreement has been signed with Cosco Shipping Seafarer Management.
The idea is to work together towards common goals on green, low-carbon and intelligent shipping, and to leverage respective strengths to integrate resources and jointly enhance competitiveness in ship management.
Han Chao, chairman and party secretary of Cosco Shipping Seafarer Management, called the move “significant” for his company as part of its strategy to “continuously deepen reform and accelerate enhancements in productivity”.
A Wallem spokesperson said: “Like all cooperation agreements, this announcement is the first stage that allows both parties to work on exploring and agreeing the practical application of our strategic intent and more info will follow as it becomes available.”
But the spokesperson added that the two sides have been working together for 15 years.
The new cooperation is an early stage, but involves using Cosco’s extensive crewing resources.
“They are poised to recommend top-tier crew members for Wallem’s selection and usage,” the spokesperson said.
“Leveraging Wallem’s unparalleled expertise in ship management and its robust network of international shipowners and charterers, we aim to enhance the application of technology, support decarbonisation efforts and improve the scale, efficiency and cost-effectiveness of supply chain procurement.”
Data to be analysed
The two companies will also systematically track and analyse business and financial data related to ship management, crew configuration and training.
“Additionally, we will join forces in crew training initiatives, fostering the integration of Chinese and foreign crews,” the spokesperson said.
Wallem and Cosco Group already have a joint venture based in Qingdao that manages more than 45 ships.
“We look forward to continuing this strong partnership and achieving even greater success together,” the spokesperson said.
