Interview with Wallem: Navigating the Future of Ship Management

Amid rapid technological change and stricter regulations, the ship management industry faces growing challenges and a trend toward consolidation. As companies streamline operations, they must also address demands for sustainability, digitalization, and crew welfare.

 

In this challenging landscape, Wallem Group has leveraged its 121 years of experience to not only sustain but strengthen its position in the maritime industry. As the oldest and one of the largest independent third-party ship managers, Wallem now manages a diverse range of vessels—from tankers and gas carriers to bulk carriers, car carriers, containers, some of them being dual-fuel LNG. This year, Wallem has experienced growth across all these sectors.

 

In an exclusive interview with Xinde Marine News, Ioannis Stefanou, Wallem's Managing Director of Ship Management, discusses the company's strategies for navigating today's complexities—covering safety, partnerships, sustainable practices, and digital innovation—ensuring Wallem remains resilient in a rapidly changing industry.
 

Ioannis Stefanou is Managing Director, Ship Management at Wallem Group

 

Organic Growth
 

In recent years, ship management companies have pursued organic growth or sought to expand through takeovers and collaborations with shipowners. In an industry where growth is often aggressively sought, Wallem prefers to organic growth, emphasizing quality and sustainable relationships rather than rapid scale. “We aim to grow by offering better service, by innovating, and by providing support for new vessels and clients,” Ioannis explains. This growth philosophy enables Wallem to offer individualised support to its clients without compromising service quality.

 

Five Principles: The Secret to Longevity
 

When asked about the secret behind Wallem's enduring success, Ioannis highlighted the company’s commitment to strong foundations and unwavering core principles established 121 years ago. “Safety is the top priority for Wallem,” he says. “That’s where we start. Whatever we do, safety comes together with quality. We don’t compromise on this.”

 

Equally essential to this legacy is partnership. “We view our relationships with clients as long-term collaborations, not just transactions,” Ioannis notes, fostering a mindset focused on mutual benefit and long-term success. Many partnerships have lasted over two decades.

 

Another core strength of Wallem's resilience lies in its agility. The company has continually evolved, managing vessels through every major industry transition—from sails to steam engines, then to internal combustion engines, and now back to sails with alternative energy sources. “Wallem has been through each stage, adapting to the changing times,” Ioannis reflects.

 

The last point is the client approach called tailor-made service, specifically crafted to meet each ship owner's unique needs. “We don't believe in a one-size-fits-all approach” Ioannis explains. This customized approach provides the flexibility of a large management firm with the attentiveness of a specialised partner, ensuring that owners receive the support they need without sacrificing personalised care.
 

Crew Training: Investing Beyond the Basics
 

At Wallem, crew management goes far beyond simple oversight, embracing a comprehensive and deeply supportive training model. Managing a diverse crew of around 6,000 seafarers from countries like India, the Philippines, and China, as well as regions like Eastern Europe and Africa, Wallem prioritizes both hard and soft skills.

 

With advanced training centers in India and the Philippines and a training centre in Dalian, Wallem offers additional add value training in areas such as dual-fuel engines, alternative fuels, and advanced navigation. For example, Wallem's bridge simulator exercises prepare crew members to handle complex situations and strengthen teamwork skills.

 

In addition to technical expertise, Wallem emphasizes their training focus on leadership and behavioral skills. “All seafarers must be leaders in safety, looking out for one another regardless of language barriers,” says Ioannis. Extensive training in safety and collaboration fosters a strong, safety-conscious culture at Wallem.

 

Well-being is another focus of Wallem's training. Recognizing the pressures of long hours away from friends and family, the company prioritizes mental health by having mental health champions onboard, providing crew members with someone to talk to. Wallem is trying to create a community and family atmosphere for seafarers.

 

The Future is Still Human: Digitalization with a Human Touch
 

Although digitalisation has revolutionized many aspects of shipping, Ioannis emphasizes that “the future is still human,” The company aims to provide the best tools within its budget, believing that technology should enhance human efforts, not replace them. By implementing AI-driven tools for tasks onboard and ashore, Wallem ensures flexibility to accommodate different technology preferences from shipowners. “We believe in providing the tools to help them perform well,” he concludes.

 

When it comes to the new generation of seafarers, Ioannis is optimistic: “Fortunately, the new generation of seafarers is very tech-savvy, so we're not concerned about their ability to use technology. Our focus is mostly on the safety implications of new technology. With new fuels, there are new systems and safety concerns. It's not just about the technology itself; it's about adjusting safety management practices. For example, different fuels have different safety requirements, so we’re training crew on how to manage these safely.”
 

Leading the Green Transition
 

Ioannis acknowledges the urgent pressure on shipowners to expedite the green transition due to regulatory and societal demands. And the mainstream fuel of the future is still undecided, complicating decisions for owners. “At Wallem, we support owners in implementing their strategies, recognising that each has a unique approach to the fuels they choose and the types of vessels they order,” he explains. This year, the focus is on methanol, and our company is also keeping an eye on ammonia as a potential future fuel.

 

Wallem prioritizes training for new fuels to manage various vessel types effectively. Ioannis highlights that the green transition involves not just fuel selection, but also using energy-saving devices and encouraging crew behavior changes for incremental savings. With experience across various clients, Wallem shares best practices to optimise operations.

 

Expertise in Car Carrier Management
 

As probably the largest third-party manager of car carriers, Wallem leverages decades of experience, providing a significant advantage. Ioannis explains, “We have a large pool of loyal and dedicated crew members who are highly experienced with car carriers.”

 

The company collaborates with charterers from Japan, Korea, Europe, and China, all of whom impose strict inspections to uphold their high standards. “Over the years, we have developed very focused and quality-oriented processes,” he adds. Wallem also pioneers the management of dual-fuel car carriers, reinforcing its leadership in this segment.

 

Discussing the unique challenges of managing car carriers, Ioannis emphasizes, “Car carriers are quality-oriented vessels; even a small scratch or a bit of dirt on a car can be a significant issue. Cars require meticulous treatment, and with car carriers often undertaking shorter trips between ports, the operations can be very frequent. This necessitates an experienced crew who understand how to load and unload vehicles safely without causing damage.”
 

Navigating Regulatory Changes
 

In light of recent inspection changes, including the new SIRE 2.0 for oil tankers and a lower age limit for inspections, Ioannis shares, “We started training our seafarers for the new SIRE inspections about a year and a half ago. After conducting test inspections, we’re now achieving positive results with minimal observations, indicating our training has been effective.”

 

With the new SIRE 2.0 requiring extensive documentation, Wallem's dedicated team in India handles this workload. “We also send superintendents onboard to train the crew during preparation,” he adds.

 

Regarding the reduction of age limit for inspetions change by Rightship, Ioannis emphasizes, “We've always prioritized quality and vessel maintenance, so this won’t significantly impact us. Quality companies like Wallem are already prepared to meet such requirements.”

 

Partnership with China
 

Wallem's partnership with China is deeply rooted and historically significant. In fact, Wallem was the first third-party management company to obtain a license to operate as a managing agency in China. “We have long-standing working relationships with Chinese clients, and many Chinese seafarers have progressed through our ranks, from cadets to senior roles,” he notes.

 

With its roots in both Asia and the West, Wallem successfully bridges these two worlds, having been founded in Shanghai while maintaining a strong European presence. By establishing partnerships with major Chinese firms, including COSCO and BYD, Wallem's significant presence in China reflects a deep understanding of the local maritime industry. “This leads to a very positive collaboration,” Ioannis adds.

 

Future Trends: Preparing for the Evolving Landscape of Ship Management
 

Looking to the future, Ioannis highlights that the biggest challenge for the shipping industry will be human resources, particularly crew recruitment. “The question of where crew will come from in the future is something we constantly think about as managers,” he states. Without crew, vessel management becomes impossible, affecting the entire shipping industry.

 

To address these uncertainties, Wallem is actively collaborating with international and industry organisations to attract new talent and retain their current workforce. “We strongly believe in diversity and inclusion,” Ioannis emphasizes, noting efforts to promote gender diversity by attracting more female employees. Additionally, Wallem aims to expand recruitment geographically to ensure a sustainable supply of qualified crew. “The shipping industry will always need good and skilled managers, and as regulations and standards evolve, we’ll be ready to lead,” he concludes.

by Xinde Marine News Pang Kai
 

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