Peculiar KM visor wreath?

[AndersB]

Hi guys! What kind of wreath would this be? Looks like something between Heer and Kriegsmarine...

Please help! THX!

wreath.jpg

[AndersB]

No clue, eh?

No one? It resembles the WW1 imperial navy visor cap wreath minus the crown in the pic below, but the cockade is WW2 isn't? Early Reichsmarine wreath with KM cockade? Merchant navy?
20178w1.jpg


???