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20 Dec 2023
Synergy Capital, a fast-growing private equity fund manager specialising in transactions across the capital structure in the Industrials, Metals and Infrastructure verticals, is pleased to announce its first investment in the shipping sector.
Synergy Capital has refinanced two bitumen tankers of DWT 5,897 MT each, built in 2010. The tankers are owned by affiliates of Zuyderzee Capital. Synergy Capital is partnering with seasoned veteran ship management companies, Alliance Maritime and Norbulk Shipping.
The high heat tanker sector is a specialized niche within the global tanker sector. High heat tankers are specialized vessels designed for the transportation of liquid asphalt or bitumen at high temperatures (up to 200 degrees Celsius). The sector has an attractive supply/demand balance. The vessels are employed on time charters to industry players.
Sudhir Maheshwari, Synergy Capital’s Founder and Managing Partner, commented:
“Synergy Capital is delighted to be launching its first shipping transaction after Jaap Kalverkamp joined the Synergy Capital team earlier this year. We have an exciting pipeline of opportunities in this sector and look forward to further expanding our shipping investment activities in 2024.”