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Synergy Marine to buy technical management business of Maersk Tankers

Singapore-based Synergy Marine Pte, a subsidiary of Synergy Group, has signed an agreement to take over the technical management business of Maersk Tankers.

Captain Rajesh Unni, founder and CEO of Synergy Group
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Captain Rajesh Unni, founder and CEO of Synergy Group

September 23, 2021: Singapore-based Synergy Marine Pte, a subsidiary of Synergy Group, has signed an agreement to take over the technical management business of Maersk Tankers.

“This will strengthen Synergy Group’s position within technical management, and Maersk Tankers will become a service company focused on commercial management,” according to an official statement issued by Synergy.

Synergy has always strived to provide high-quality services to ship-owning partners, Captain Rajesh Unni, founder and CEO of Synergy Group, said in the statement. “Being considered the right owner of Maersk Tankers’ technical management business is a 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.”

A Synergy official, when contacted, refused to share the financial details of the deal.

The technical management business, which has been part of Copenhagen, Denmark-based Maersk Tankers since 1928, maintains vessels to ensure safe, efficient and cost-competitive operation. It employs close to 3,300 people of which 140 work onshore, a statement by Maersk Tankers said.

Maersk Tankers has been transformed from a traditional tanker company into a service company over the past few years, according to CEO Christian M. Ingerslev. “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 shipowners.”

The deal, which includes the technical management of 82 vessels, is expected to be completed by November 2021, Maersk Tankers’ statement said.

Founded in 2006 by Captain Unni, Synergy Group employs 14,000 seafarers and more than 1,000 shore-based employees. Synergy manages a fleet of almost 500 vessels including the most complex LNG, LPG, 20,000+ TEU container ships, oil and chemical tankers, car carriers and bulk carriers.

Jyothi Shankaran

Jyothi Shankaran

Associate Editor, STAT Media Group. He has worked with IndiaSpend, Bloomberg TV, Business Standard and Indian Express Group. Jyothi can be reached at jyothi@statmediagroup.com


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