When Frank Coles was appointed chief executive of Wallem Group nine months ago, he decided the Hong Kong-based shipmanager should become special by not believing the business to be “special”.

Coles — who was previously president of Transas until its sale to Wartsila last year, and before that headed Inmarsat — tells TradeWinds that Wallem was looking for change.

But he adds: “Because I had just sold Transas, it was made very clear to me we are not for sale, but we are for growth and modernisation.”