Five years ago three companies, well established in their own sectors of[ds_preview] the maritime industry, came together to establish Wallem GmbH & Co. KG, to offer excellent ship management services to the burgeoning German shipping market. Joe Corcoran is the Managing Director of Wallem GmbH & Co. KG and has been since the company was established.
The company was founded in June 2004, but despite being what may seem like a young company, it was, and still is, backed by extensive experience from the three joint venture partners. Wallem Group, based in Hong Kong, has 105 years of experience as shipbrokers, owners and is one of the oldest specialist ship managers.
The second partner is Bereederungsgesellschaft H. Vogemann GmbH & Co. KG with 123 years of experience initially s ship owner then as one of Germany’s largest dry cargo brokers and more recently they are again ship owners and KG managers.
The third partner in the joint venture is KG Reederei Roth GmbH which was established thirty years ago. It offers full technical and commercial management and currently operates 13 bulk carriers.
With this huge combined experience in the maritime industry behind it Wallem can provide truly international ship management services in full compliance with requirements of German tonnage tax. The company provides technical management expertise, particularly in crude and product tankers, bulk carriers and containers. Wallem’s in Germany is involved in technical management, crew management, new building supervision, asset-protection audits and inspections as well as pre-purchase inspections.
Wallem’s clients have access to the procurement services of Wallem in Hong Kong, which keeps costs very low, but because the process is managed through Germany, the system fully complies with the German tonnage tax requirements. Clients get the purchasing power of a company with 300 ships, but the attention of a manager in their own country.
Wallem Germany was established in 2004 with four vessels. Today it manages 29 vessels for several owners. Crewing and procurement services are also provided to four Reederei Hamburger Lloyd container vessels.
The ongoing business strategy is to steadily build Wallem Germany’s portfolio of managed vessels and increase shipyard supervision in China and India, keeping a high standard of quality control. Wallem will also look to increase asset protection services for ship financing banks and inspecting vessels on behalf of institutions.
Wallem Germany people
The team now comprises of 22 people. The Technical Department includes a Technical Manager with six superintendents, and five backup staff. The Ships’ Personnel Department has three members, and two marine safety superintendents.
Capt. Joe Corcoran is the Managing Director of Wallem GmbH & Co. KG, based in Hamburg. Joe established the office in Hamburg and has been with Wallem Shipmanagement for eight years, initially based in the Hong Kong office. Joe began his career in shipping as a deck cadet with Bibby Line of Liverpool and spent 26 years with them specialising in LPG ships, achieving promotion as their youngest Master and serving 12 years in that rank. In 1993 he joined Kuwait Oil Tanker Company as an operations superintendent and was promoted to General Superintendent with responsibility for half of their fleet of crude, product and LPG vessels.
