The partnership is part of COSCO’s ambition to “accelerate enhancements in productivity”. Credit: VladSV/Shutterstock.com

Hong Kong-based Wallem Group has signed a partnership with COSCO Seafarer Management Company to work together on sustainability and efficiency projects. 

Wallem will work with the subsidiary of Chinese maritime giant COSCO Shipping to “set new benchmarks” for ship management and crew services after signing the strategic cooperation agreement. 

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John Rowley, CEO of Wallem Group, said the duo would work together on “common goals” including green and low-carbon shipping and would “leverage respective strengths to further integrate resources and jointly enhance competitiveness in ship management.” 

The Hong Kong company was established in 1903 and provides complete vessel lifecycle support from overseeing newbuilds to giving guidance on end-of-life recycling, as well as offering crew management and port agency services. 

Han Chao, chairman of COSCO Shipping Seafarer Management Company, described the partnership as a “significant move”, he said: it “expands cooperation with a leading global third-party ship management company, as part of COSCO’s strategy to continuously deepen reform and accelerate enhancements in productivity.” 

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Wallem and COSCO will also work together on intelligent shipping solutions as they seek to keep up with the industry’s innovations in the sector, which includes route optimisation technology and the use of sensors and the internet of things to improve communication between vessels and their owners. 

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The agreement is yet another sustainability-focussed partnership for COSCO after the shipping company signed a deal with Australia’s Fortescue last month to collaborate on low-emission shipping fuels, including green ammonia.