Synergy Group in deal to take over technical management of Maersk Tankers

P Manoj Mumbai | Updated on September 23, 2021

The pact includes customer and supplier contracts and the technical management of vessels.

Singapore-based ship manager Synergy Marine Pte Ltd, a unit of Synergy Group led by founder and CEO Rajesh Unni, has signed an agreement to take over the technical management business of Maersk Tankers in a deal that will strengthen Synergy’s global status in this segment and create thousands of jobs for Indian seafarers.

The agreement includes customer and supplier contracts, as well as the technical management of 82 vessels, including the vessels in Maersk Product Tankers.

Synergy currently manages a fleet of some 500 vessels, including the most complex liquefied natural gas (LNG) carriers and floating storage units (FSUs), liquefied petroleum gas (LPG) tankers, container ships, oil and chemical tankers, car carriers and bulk carriers.

Synergy employs more than 14,000 seafarers, of which more than 80 per cent are Indian nationals.

“More vessels mean access to more data, which Synergy Group will use to optimise vessel performance and reduce the environmental impact of shipping,” Unni said while announcing the deal.

Commercial management market

Following the deal, Maersk Tankers will become a service company focused on the commercial management market, delivering financially and environmentally viable solutions for shipowners, said Christian Ingerslev, CEO of Maersk Tankers.

“Maersk Tankers has been transformed from a traditional tanker company into a service company over the past few years. The agreement with Synergy Group marks the next big step on our strategic course, offering both the technical and commercial businesses optimum conditions in which to thrive,” Ingerslev said.

The technical management business of Maersk Tankers employs close to 3,300 people, of which 140 work onshore. The majority of the Maersk Tankers’ technical management business employees will become part of the Synergy Group, strengthening the company’s presence in Denmark, Singapore and India.

Synergy Group has been chosen to grow and develop the technical management business, Ingerslev added.

“At Synergy, we have always striven to provide high-quality services to our ship-owning partners. Being considered the right owner of Maersk Tankers’ technical management business is testament to our beliefs and philosophy of working towards creating a platform for high-quality and technically adept services. The crew’s well-being is paramount, and we are committed to providing sustainably responsible services,” Unni added.

Following the takeover, the two companies will also work together to manage the vessels in Maersk Product Tankers.

The takeover of the technical management business is expected to be completed in November 2021.

Published on September 23, 2021

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