Oldendorff Carriers has appointed Synergy Group's German unit to manage a part of its bulk carrier fleet.
Synergy Marine Germany will take over the full technical management of 17 Oldendorff bulk carriers comprising nine post-panamax vessels and eight 'babycapes'.
The contract includes the deployment of Synergy's digital shipping platform which employs real-time data to maximise vessels' operational efficiency.
Oldendorff Carriers is one of Germany's foremost shipowners with a total dry bulk fleet of 750 ships with a deadweight capacity of 65m tonnes, of which 180 are owned or bareboat chartered.
"When we place our vessels with a third-party manager we only do so when we are confident they will deliver the benchmarked technical excellence that both Oldendorff and our customers expect," said Oldendorff 's managing director of operations Dexter Jeremiah.
Singapore-based Synergy Group now has a diversified fleet of more than 500 vessels under management.
Jeremiah added Oldendorff sees Synergy as "a fantastic technical thought partner" in helping to deal with the challenges of decarbonisation and implanting new technology.
Last month Synergy opened a new office in Hamburg taking its network to 25 offices in 13 countries. It employs more than 18,000 seafarers.
In September, it also agreed to buy Maersk Tankers' technical management division in a major expansion that involved 82 product tankers and close to 3,300 employees.
Captain Rajesh Unni, founder and chief executive of Synergy Group, said: "Oldendorff Carriers is one of the great names of global shipping and we are honoured to be entrusted with the management of part of their fleet."