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The first sino-foreign joint
verture on third-party ship management in China
13/10/2005
-- Opening Ceremony of COSCO WALLEM Ship Management
Co., Ltd
(Qingdao Daily Newspaper dated 17th
Sep, 2005)
COSCO WALLEM Shipmanagement Co., Ltd
jointly invested and established by COSCO Qingdao,
Wallem Group and Triad Marine Corporation was celebrating
its opening ceremony in Shangri-la hotel yesterday
evening. It is the first sino-foreign joint verture
in China in the third-party ship management field.
Vice mayor of Qingdao Municipal Government Mr. Hu
Shaojun was attending the opening ceremony.
More than 200 people from the shipping
and financing industry have attended the event, including
shipowners from home and abroad, such as NYK BULKSHIP
(CHINA) LTD, ITOCHU CORPERATION, Cosco Container Lines
Company, Cosco Bulk Carrier Company etc. as well as
representatives from COSCO Qingdao, Wallem Group and
Triad Marine Corporation. Wallem Group is well-known
as one of the top five ship management companies in
the world with a history of more than 100 years since
its establishment.
COSCO WALLEM has managed nearly 20 vessels
under the ownerships of ITOCHU CORPERATION, Danish owners
and other owners from Europe, Japan, Hongkong and mainland
China. The total deadweight of the fleet has reached
about 1,500,000 DWT. The target of COSCO WALLEM is to
take the advantage of first class International shipmanagement
standards, excellent management and good fame derived
from the three parties to develop third-party ship management
from China starting with all sizes bulk carriers COSCO
Wallem will, gradually develop to other types of vessels
such as tankers, containers, etc.
Chinese ship management companies
in third party ship management service have great
potential with the prosperity of the international
shipping industry. The establishment of COSCO WALLEM
Ship Management Co., Ltd meets the trend and development
of international shipping markets. It will certainly
contribute to the prosperous development of Qingdao
as a shipping center and will have a deep positive
influence on Qingdao’s role in International
shipping circle.
END
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