Synergy Marine Pte. Ltd., a subsidiary of Singapore-based ship manager Synergy Group, has signed an agreement to take over Maersk Tankers’ technical management business.
According to the duo, the acquisition will strengthen Synergy Group’s position within technical management, and Maersk Tankers will become a service company focused on commercial management.
“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,” Christian M. Ingerslev, CEO of Maersk Tankers, commented.
“Maersk Tankers will become a service company focused on the commercial management market, delivering financially and environmentally viable solutions for shipowners,” he added.
The technical management business has been part of Maersk Tankers since 1928. It employs close to 3,300 people, of which 140 work onshore. Synergy Group, with 14,000 seafarers and more than 1,000 shore-based employees, will help the technical management business grow and develop, the two companies said.
Under the deal, Synergy Group will take over the entire technical management business of Maersk Tankers. This includes customer and supplier contracts, as well as the technical management of 82 vessels, including the vessels in Maersk Product Tankers. More vessels mean access to more data, which Synergy Group will use to optimize vessel performance and reduce the environmental impact of shipping.
The vast majority of the employees in Maersk Tankers’ technical management business will become part of the Synergy Group, which will strengthen the company’s presence in Denmark, Singapore and India.
Following the takeover, the two companies will work together on the management of the vessels in Maersk Product Tankers.
The takeover of the technical management business is expected to be completed during November 2021.