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Maersk Tankers Sells Technical Management to Become Service Company 

Maersk Tankers sells technical management business
(file photo)

Published Sep 23, 2021 2:23 PM by The Maritime Executive

Maersk Tankers has announced the sale of its technical management business to Synergy Marine, a subsidiary of Synergy Group of Singapore. Maersk Tankers, which had recently been selling vessels from its nearly century old business, said it will now become a service company focused on commercial management.

Synergy Marine, which currently has 375 vessels under management including tankers, bulkers, and LPG carriers, said the transaction will strengthen the group’s position within technical management. Under the agreement, Synergy Group will take over the entire technical management business of Maersk Tankers, including customer and supplier contracts, as well as the technical management of 82 vessels, including the vessels in Maersk Product Tankers. 

“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.” said Christian M. Ingerslev, CEO of Maersk Tankers.

The technical management business 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 currently has 14,000 seafarers and more than 1,000 shore-based employees. The majority of the employees in Maersk Tankers’ technical management business will become part of the Synergy Group.

“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,” says Captain Rajesh Unni, founder and CEO of Synergy Group.

Synergy’s strategy is to continue to grow and develop the technical management business. The company highlighted that more vessels mean access to more data, which Synergy Group says it will use to optimize vessel performance and reduce the environmental impact of shipping.

The takeover of the technical management business is expected to be completed during November 2021. Following the completion of the transaction, the two companies will work together on the management of the vessels in Maersk Product Tankers.