Ship Management Firms Form Alliance

Press Release
Wednesday, September 05, 2012

LMS Shipmanagement & Wallem Group team up to provide ship management, crewing, & marine technical services.

International Shipholding Corporation (ISH) announce that LMS Shipmanagement, Inc., its wholly-owned subsidiary, and Wallem Group Ltd. have agreed to form an alliance encompassing the ship management, crewing, and marine technical services for ISH’s International Flag vessels.

While LMS and Wallem will continue to operate independently, the alliance provides that, based on expertise, the daily functions will be divided between the two companies. Thus, the alliance will allow ISH to take advantage of the economy of scale of a larger ship management organization.

“In the current financial environment, Wallem offers ship owners a unique opportunity to utilize any or all of the services offered by Wallem and take advantage of a large fleet, no matter the size of their own.”

International Shipholding Corporation’s U.S. Flag vessels will not be managed by this alliance and will continue to be operated from Mobile, Alabama.

Through its subsidiaries, International Shipholding Corporation currently operates 37 vessels with cargo carrying capabilities including tankers, bulk carriers and PCTC’s.

Wallem Group’s ship management companies manage more than 400 vessels from its offices in Asia and Europe.

It is expected that the changes associated with the alliance will be fully implemented by the end of 2012.





 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1192 sec (8 req/sec)