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Synergy Group and NORDEN launch tanker joint venture

Updated:
Jul 15, 2024
/
Published:
Aug 19, 2020

Synergy Group and D.S. NORDEN have formed a new joint venture to handle the technical management of NORDEN’s owned tanker vessels effective as of today.

Norden Synergy Ship Management (NSSM) is a 50/50 joint venture between NORDEN and Synergy and will be headed by Henrik Christensen who previously managed NORDEN’s Technical Department.

“NORDEN is a quality, historic and renowned shipping brand with an organisation that truly lives up to its motto ‘Smarter Global Trade’,” said Rajesh Unni, CEO & Founder of Synergy Group.

“We see great alignment when we have partnered previously and we expect that to lead to more mutual wins in the future through NSSM.”

The formation of NSSM further cements the partnership between Synergy Group, one of the world’s leading ship managers with a fleet of over 300 vessels, and NORDEN, the globally renowned independent shipping company founded in 1871 and listed on the Nasdaq Copenhagen exchange.

Last year, NORDEN appointed Synergy Group to manage its fleet of owned bulk carriers, with management services provided from Synergy’s head office in Singapore and its technical office in Chennai, India.

NSSM will manage NORDEN’s current fleet of Medium Range (MR) and handysize product carriers from its headquarters in Copenhagen, Denmark, with additional technical support provided by a 100%-owned subsidiary based in India.

Seafarers currently employed directly by NORDEN will be transferred to the joint venture where they will continue their employment on NORDEN-owned vessels under the same terms and conditions as before. All other seafarers will be offered new contracts through Synergy.

“Both teams are conscious about opportunities to make a difference in the industry,” added Captain Unni. “Culturally the teams have much in common and that to me is the key to this partnership.

“The joint venture will also take advantage of Synergy’s new generation digital ship offering – SMARTShip, an Internet of Things platform that enables improvement of vessel and fleet efficiency by bringing cutting edge computing to the high seas.”

Christensen said he expected NSSM to benefit from Synergy Group’s longstanding reputation for excellence in all areas of ship management. “Synergy has shown time and again that it is uniquely equipped to take on the most demanding technical and commercial shipmanagement challenges while also embracing the progressive core values of NORDEN on issues such as gender diversification, crew welfare and sustainability,” he said.

“Both organisations are fully aligned on these core values and in our shared view that digitalisation, smart shipping and the deployment of cutting-edge technology are critical to the successful management of vessels in the modern age.

“Together as NSSM, we will be able to deliver the full range of technical, crewing, training and technological service excellence required by NORDEN.”

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Getting to Zero

Synergy Marine Group is a member of The Getting to Zero Coalition, dedicated to launching zero-emission deep-sea vessels by 2030 and achieving full decarbonisation by 2050. The Global Maritime Forum, in collaboration with the World Economic Forum and Friends of Ocean Action, founded and manages the Coalition.

MACN

Synergy Marine Group is part of the Maritime Anti-Corruption Network (MACN), a global initiative striving for a corruption-free maritime industry, promoting fair trade for the greater societal good.

INTERCARGO

Synergy Marine Group is a part of INTERCARGO, an association championing safe, efficient, and eco-friendly shipping. INTERCARGO collaborates with the International Maritime Organization and other global entities to shape maritime legislation.

IMEC

Synergy Marine Group is part of IMEC, a top maritime employers’ group championing fair and sustainable labor practices. Representing global employers, IMEC negotiates seafarers’ wages and conditions, and invests in workforce development.

IMPA

Synergy Marine Group is involved in IMPA Save’s initiative to reduce single-use water bottles at sea. The IMPA SAVE council comprises top global shipowners and suppliers, representing over 8000 vessels with significant combined purchasing influence.

All Aboard

Synergy Marine Group is a key participant in The All Aboard Alliance’s Diversity@Sea initiative. As one of eleven prominent maritime companies, we aim to foster inclusivity at sea and directly address challenges faced by women seafarers.

CSSF

Synergy Marine Group is part of the Container Ship Safety Forum (CSSF), a global B2B network dedicated to enhancing safety and management standards in the container shipping sector.

Danish Shipping

Synergy Marine Group is affiliated with Danske Rederier, the primary industry and employers’ association for Danish shipping—Denmark’s top export sector. Danske Rederier actively engages with authorities and policymakers both domestically and globally.