It was difficult to prove that this James Cormack was indeed correct one.  There were many people named  James Cormack in Wick at that time.  Also confusing matters was the fact that more than one was ocean going.  Thus, they would not appear on a census.  
I, Paul B. Campanis, offer the following proof that this is my grandfather William Bain Cormack’s Grandfather and my GGGF.
Birth: 
http://campanis.com/internet_repository/Cormack_James_birth_1823.jpg
At this point we do not know that this is the right person.  The document says that his Father John Cormack was a fish curer in Pulteney.  This was a very common occupation then.  There was another James born in 1826 that was very difficult to eliminate as my GGGF.
Census 1841 
at the Address of Harbor Terrace, 
Age 15.  This implies a birth date of 1826.  
This Census rounded numbers.  Enumerators were specifically instructed to round down to multiples of 5 the ages of anyone over 15.
Here is occupation is Cooper's Apprentice.
So, this seemed like this was  the wrong person because the identifying link later on is James’ occupation as a “Ship Owner” and “Master Mariner.”
http://campanis.com/internet_repository/Cormack_James_1841census.tif  
Census 1851 
at the Address of Harbor Terrace, 
Age 27.  This implies a birth date of 1824 or 1823 if the Census was taken prior to his birthday of Oct 20th.  
The occupation is listed as “Seaman.”
http://campanis.com/internet_repository/Cormack_James_1851census.tif 
Marriage
John O'Groat Journal Friday, January 2, 1852
"At Bank Row, Pulteneytown, on the 31st ultimo, by the Rev. Andrew KEY, Captain James CORMACK, of the smack Brave of Wick, to Margaret, youngest daughter of Mr. Walter GREEN, fishcurer, Pulteneytown."

http://campanis.com/internet_repository/cormack_parish.htm 
James Cormack, Seaman, Pulteneytown and Margaret Green, daughter of Walter Green, Pulteneytown were matrimonially contracted on this 25th day of December and married by the Reverend Andrew Key on the 31st day of December AD 1851 in the presence of John Green and Donald Bain, parishioners.
Notice that this is the same occupation as in the 1851 Census.

Master Mariner
On this forum a listing appeared for James Cormack:
http://forum.caithness.org/showthread.php?t=31253
Here is the Listing.
Cormack James
Current Ship: BRAVE of Wick Trade: Home
Age: 27
Born: Wick Ticket No: 37209
Master
Date Joined: 01 Jan 1851 Place Joined: Wick
Date Left: Remains Place Left: Why Left:
Previous Ship: BRAVE of Wick
This implies a birth date of 1823.
One has to realize that as of January 1, 1851 James was 27.
Later that year he turned 28.
So  the subtraction of 1851– 28 brings us to his birthday of  1823.

This information was also obtained.
Guildhall Library Manuscripts Section - Indexes to Lloyd's Captains Registers
http://www.history.ac.uk/gh/capintro.htm 
There is an entry on this page:  http://www.history.ac.uk/gh/capsC.pdf  
As follows: CORMAK, James b. Wick 1823 S37657 vol.3 1856-1857, 1859-1868
The researcher there transcribed and sent this record.

It reads as follows:
Name : James Cormack
Place and date of birth : Wick, 1823 
Certificate number : S 37657 [S denotes certificate of service] 
Place certificate awarded : Not recorded. 
Date of certificate : Not recorded. 
Special qualifications : None given. 
Details of his voyages are also recorded in the Captains Registers as follows (with name and number of ship, date(s) of voyage, destination): 
Lillias , 1856, Ct.; Adelaide , 17,655, 1857, Ct.; Aspern , 5061, 1860-1, Ct., B.; Hunter , 42,169, 1862-4, B. Ct.; Express , 29, 228, 1865-8, B., Ct. B. is Baltic, Norway, White Sea, Gulf of Finland and Cattegat; Ct. is coasting trade, including Holland, Belgium, France, from River Elbe to Brest.
Here we see the Birth Year as 1823 in Wick. 
This I confirmed with the researcher at Guildhall.
Ship's crew list  of Eleven Men
Coghill Alexander
Current Ship: BRAVE of Wick Trade: Home
Age: 18
Born: Wick Ticket No: 284096
Seaman
Date Joined: 14 May 1851 Place Joined: Wick
Date Left: 14 Jul 1851 Place Left: Wick Why Left: Discharged
Previous Ship: MARY ANN of Banff
---------------------------------------------------------------------------------------------------------------------------
Sinclair Alexander
Current Ship: BRAVE of Wick Trade: Home
Age: 22
Born: Thurso Ticket No: 284180
Seaman
Date Joined: 19 Jul 1851 Place Joined: Wick
Date Left: 17 Sep 1851 Place Left: Wick Why Left: Discharged
Previous Ship: SOVERIGN of Wick
---------------------------------------------------------------------------------------------------------------------------
Brown Charles
Current Ship: BRAVE of Wick Trade: Home
Age: 27
Born: Greenwich Ticket No: 7423
Mate
Date Joined: 01 Jul 1851 Place Joined: Wick
Date Left: Remains Place Left: Why Left:
Previous Ship: BRAVE of Wick
---------------------------------------------------------------------------------------------------------------------------
McKay George
Current Ship: BRAVE of Wick Trade: Home
Age: 18
Born: Wick Ticket No: 284171
Seaman
Date Joined: 01 Jul 1851 Place Joined: Wick
Date Left: Remains Place Left: Why Left:
Previous Ship: BRAVE of Wick
---------------------------------------------------------------------------------------------------------------------------
Small James
Current Ship: BRAVE of Wick Trade: Home
Age: 22
Born: Wick Ticket No: 54047
Mate
Date Joined: 01 Jan 1851 Place Joined: Wick
Date Left: 18 Mar 1851 Place Left: Helmsdale Why Left: Discharged
Previous Ship: BETSY of Banff
---------------------------------------------------------------------------------------------------------------------------
Wares James
Current Ship: BRAVE of Wick Trade: Home
Age: 22
Born: CAI Ticket No: 284221
Seaman
Date Joined: 13 Sep 1851 Place Joined: Wick
Date Left: 10 Dec 1851 Place Left: Wick Why Left: Discharged
Previous Ship: BRAVE of Wick
---------------------------------------------------------------------------------------------------------------------------

Sinclair James
Current Ship: BRAVE of Wick Trade: Home
Age: 23
Born: Thurso Ticket No: 72962
Mate
Date Joined: 18 Jul 1851 Place Joined: Wick
Date Left: 17 Sep 1851 Place Left: Wick Why Left: Discharged
Previous Ship: HARMONY of Belfast
---------------------------------------------------------------------------------------------------------------------------
Cormack James
Current Ship: BRAVE of Wick Trade: Home
Age: 27
Born: Wick Ticket No: 37209
Master
Date Joined: 01 Jan 1851 Place Joined: Wick
Date Left: Remains Place Left: Why Left:
Previous Ship: BRAVE of Wick
---------------------------------------------------------------------------------------------------------------------------
Doull John
Current Ship: BRAVE of Wick Trade: Home
Age: 18
Born: Wick Ticket No: 275794
Seaman/Mate
Date Joined: 03 Apr 1851 Place Joined: Wick
Date Left: 14 Jul 1851 Place Left: Wick Why Left: Discharged
Previous Ship: THISTLE of Wick
---------------------------------------------------------------------------------------------------------------------------
Johnston Peter
Current Ship: BRAVE of Wick Trade: Home
Age: 23
Born: CAI Ticket No: 284218
Mate
Date Joined: 11 Sep 1851 Place Joined: Wick
Date Left: Remains Place Left: Why Left:
Previous Ship: THISTLE of Wick
Comments:
---------------------------------------------------------------------------------------------------------------------------
Tait William
Current Ship: BRAVE of Wick Trade: Home
Age: 43
Born: DUR Ticket No: 54037
Mate
Date Joined: 03 Apr 1851 Place Joined: Wick
Date Left: 12 May 1851 Place Left: Wick Why Left: Discharged
Previous Ship: GANNET of Belfast	

Obtained from Guildhall, London, October 2007
Summary: http://campanis.com/internet_repository/james_cormack_lloyds_entry_summary.jpg 
Zoom: http://campanis.com/internet_repository/james_cormack_lloyds_entry_zoom.jpg 
So we know our James is a Master Mariner by occupation.

- on the ship Lillias 1856 for Coastal Trade
- on the ship Adelaide 17665 (her ship number_ in 1857 abd 1859 for the Coastal Trade
- on the ship Aspern 5061 in 1860-1861 for the Coastal Trade and the Baltic Trade.
- on the ship Hunter 42169 1862-1864 for the Baltic and Coastal Trade
-on the ship Express  29228 1865-1868 for the Baltic and Coastral trade.
So the Brave must have been sunk or captained by someone else around 1855 and may not be registered with Lloyds.
James did not appear to be on a ship registered with Lloyds in 1858 for some reason. 
Inverness Advertiser Tuesday, March 25, 1856
"The sloop 'Brave' of Wick - this vessel left Thurso on the morning of Tuesday week, laden with pavement, and sprang a leak in the Pentland Firth shortly after passing Dunnet Head. The crew, consisting of Mr TAIT (the master), and two men, took to the boat, and got safely to land, after struggling for some time with a powerful wind and a boisterous sea. The 'Brave' shortly afterwards went down in deep water, a short distance off Brough, in the parish of Dunnet."

Death:
http://campanis.com/internet_repository/Cormack_James_1869_death.tif 
James Cormack, Ship Owner & Captain (married) – died 28th October 1869 (10.45am) at Royal Edinburgh Asylum, Edinburgh aged 46 years. Cause of Death: General paralysis, general failure of constitution consequent on an intensely internal … condition. As certified by … Wright. Informant: Alex Cramond, attendant.
Marriage of Son (my GGF)
http://campanis.com/internet_repository/Cormack-Gen.htm 
8th July 1895 at The Bath, Old Bath Street, Glasgow, after banns according to the forms of the United Presbyterian Church: James Cormack, Hotel Proprietor (bachelor) – 37 of Caledonian Hotel, Bridge Street, Wick, son of James Cormack – Master Mariner (deceased) and Margaret Green, and Maggie Bain (spinster) – 24 of Port Dunbar, Wick, daughter of William Bain – Master Fish-curer and Elizabeth Rae. James Cruickshank – minister of St Rollox U.P. church, Glasgow. Witnesses: Hector Sutherland and Lizzie Bain. Registered 8th July at Glasgow.
Notice the occupation of Master Mariner.
Marriage of Daughter Elizabeth (my GGF-sister)
http://campanis.com/internet_repository/McKenzie_George_and_Elizabeth_Cormack_marriage_1878.tif   
The occupation of the father is recorded as “Ship Master” and deceased as of 1878
The mother’s name is Margaret Green
This I offer as proof the James Cormack born to John Cormack and Elizabeth Thompson  on 20 Oct 1823 in Wick is my Great Great Grandfather.
Paul B. Campanis