Wallem Group Expands in Asia

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. Wallem is already present in Malaysia through its shareholding in Harper Wira, aquired last year and Wallem Shipping (Malaysia) has emerged as a result of the re-naming of a Harper wira subsidiary.

In Jakarta, PT Wallem Sentosa Shipping Services will open its doors on July 21, 2005 as a Shipping Company that is eligible to provide complete range of Shipping Services including Agency Services to Principals operating Liner, Tramp and Cruise Ships at all ports in Indonesia – the world's largest archipelago and one of the largest & growing markets for maritime transportation. Wallem Sentosa is a joint-venture of PT Layar Sentosa Shipping Corporation and Wallem & Co. Ltd. and represents renewed cooperation for two companies whose relationship traces back to the early 1980's. It is the intention of the partners to extend their cooperation in other (geographical) areas.

Wallem Sentosa's Director & General Manager is Mr. S.B Suresh, assisted by Manager – Business Development, Mr. Therry van Vreden. The opening of Wallem Sentosa fills in an important space in the Wallem Agencies regional network and the partners are confident that the new company's solid foundations will prove attractive to international Principals.