Synergy Group subsidiary Synergy Marine has agreed to acquire Maersk Tankers’ entire technical management business.

The deal is expected to complete in November 2021.

This acquisition is said to reinforce the position of Synergy Group within technical management while making Maersk Tankers a service firm focused on commercial management.

Functioning under Maersk Tankers since 1928, the technical management business has been responsible for the maintenance of ships.

According to the agreement, Synergy Group will obtain customer and supplier contracts, along with the technical management of 82 ships, including the vessels in the Maersk Product Tankers fleet.

With access to more data through additional vessels, Synergy Group is expected to cut down the environmental impact of shipping and improve ship performance.

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Maersk Tankers CEO Christian M Ingerslev said: “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 shipowners.”

As part of the takeover, most of the employees in Maersk Tankers’ technical management business will join Synergy Group.

This will fortify the company’s presence in Denmark, Singapore and India.

Following the acquisition, the two firms will jointly manage Maersk Product Tankers vessels.

Furthermore, AP Moller-Maersk’s corporate venture unit, Maersk Growth, has made a minority investment in Prometheus Fuels, a Silicon Valley-based electrofuels startup.

This investment is expected to help the company decarbonise its marine operations.

Maersk has identified four potential fuel pathways to decarbonisation, including biodiesel, alcohols, lignin-enhanced alcohols and ammonia.

Last month, AP Moller-Maersk became part of the Low Carbon Charter, introduced by the Hong Kong Business Environment Council.