In Qingdao, on July 1, 2005, Cosco Wallem Shipmanagement Co. started providing shipmanangement services to international and PRC owners. The new company is a joint venture of Cosco Qingdao and Wallem Shipmamangement in HK, and is both companies' first such venture in China. Wallem brings a wealth of international experience to the joint venture and this, coupled, with Cosco's links to PRC crew sources will allow Cosco Wallem to provide a steady supply of ships staff, with full technical support, to its principals. In Kuala Lumpur, Wallem Shipping (Malaysia) Sdn Bhd commenced operations on July 1, 2005 and in the process formerly established the Wallem name in Malaysia.