Thursday, September 23, 2021

Tanker Group Passes Over Technical Management Business to Singapore Outfit

Deal Inked on Transfer of 3,000+ Global Staff
Shipping News Feature

DENMARK – SINGAPORE – Maersk Tankers, a subsidiary of AP Moller Maersk's holding and investment arm APMH Invest has signed an agreement which sees Synergy Marine Pte. Ltd., itself a subsidiary of the Synergy Group, take over Maersk Tankers’ technical management business.

Under the agreement Maersk Tankers will become a service company focused on commercial management while the Synergy Group’s aim is to strengthen its own position within the `technical management field. Christian M. Ingerslev, CEO of Maersk Tankers explained:

“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. Maersk Tankers will become a service company focused on the commercial management market, delivering financially and environmentally viable solutions for ship owners.”

The technical management business, which has been part of Maersk Tankers since 1928, maintains vessels to ensure their safe, efficient and cost-competitive operation. It employs close to 3,300 people, of which 140 work onshore. Synergy Group, a ship management outfit, founded in 2006 and with 14,000 seafarers and more than 1,000 shore-based employees, has been selected as the new owner to grow and develop the technical management business. Captain Rajesh Unni, founder and CEO of Synergy Group commented:

“At Synergy, we have always strived 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.”

Under the agreement, 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 optimise 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.