Headquartered in Hong Kong, we are committed to providing. The company would start off with 11 employees. The Wallem Group provides clients with ship management, shipping agency, ship broking and IT services. Wallem will open an office in Qianhai by June to manage ships from Shenzhen, the world’s fourth-busiest container port, trailing Hong Kong at No.3. The Wallem Group is one of the worlds largest and most experienced providers of maritime solutions. “We cannot continue to have margins squeezed by what we pay in rent, and whatever else in our offices, or there is nothing left,” he told Reuters in an interview at Wallem’s headquarters in Quarry Bay, an industrial-turned-commercial district. “We, like most other service providers in Hong Kong, work on very tight profit margins,” said Jim Nelson, managing director of Wallem’s ship management arm. HONG KONG (Reuters) - Hong Kong’s 110-year-old Wallem Group, among the world’s top five ship managers, will set up shop in a proposed $45 billion business zone in the southern Chinese port city of Shenzhen as rents in the former British territory soar.īesides using the Qianhai zone as a springboard to opportunities in China’s shipping market, Wallem is also looking to fork out less than a quarter of the rent it pays in Hong Kong, which is just an hour’s drive away by car.
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