Shipping giant may lay anchor in Qianhai zone

Wallem, the Hong Kong-headquartered ship management and shipping services firm, is weighing plans to set up operations in Qianhai, a special development zone in Shenzhen.

Jim Nelson, Wallem Shipmanagement managing director, said: "The people who are operating this development zone are looking for a high-profile ship manager to open a small ship management office in this area … We are talking about an office size to operate about 10 ships max."

While contacts are still at the exploratory stage, Wallem is hoping the Qianhai operation, if it starts, will be a springboard to develop domestic ship management business without the need for mainland partners.

"It is very early days. We are at least six months away before anything comes to fruition, that's if it happens at all. What we have … is a shed full of promises but no concrete actions … it may never happen," Nelson said.

But he said the promises included being given licences to manage ships involved in China's cabotage, or local coastal, trade as well as seafarer training. If that happened, Nelson said: "We would basically be a Chinese ship management company with no need to take on a joint venture partner."

Wallem is one of the world's top five ship managers, responsible for the day-to-day management of more than 400 vessels.