Crowley and SEACOR Holdings have jointly announced the successful formation of Fairwater Holdings LLC. Fairwater, an independent U.S. company, integrates Crowley and SEACOR’s petroleum and chemical transportation vessels, capabilities, and personnel to provide U.S. Jones Act shipping solutions.
Fairwater is active in all major Jones Act coastwise tank vessel trades, setting it apart from industry peers. The company supports the transportation of petroleum products, chemical and specialty parcels, as well as Alaskan crude oil. Its fleet consists of 31 owned vessels, including both “ECO” and conventional medium-range product tankers, 114,000 DWT Aframax tankers, and articulated tug-barges (ATBs) with varying enhancements and capabilities. In addition, Fairwater provides ship management services for a diverse fleet of 20 third-party owned vessels.
“I am excited to lead a team of nearly 1,700 seagoing and shoreside professionals under the new Fairwater banner,” said Daniel Thorogood, CEO of Fairwater and former CEO of Seabulk. “Our geographic reach, operational and technical expertise, and the diversity of our assets enable Fairwater to serve as the industry’s next-generation provider of safe, highly flexible, and reliable energy transportation solutions.”
Tom Crowley, chairman and CEO of the Crowley Corporation, who also serves as chairman of Fairwater, added, “Fairwater creates a new, dynamic leader with the broadest capabilities in our domestic industry for customers and carries forward the shared legacy of value, efficiency, and high performance by Crowley and SEACOR.”
“Together, with Crowley, we stand ready to support the business as it solidifies its position in the market and explores new avenues of sustainable, long-term growth across the coastwise trades and other adjacent markets,” said Eric Fabrikant, CEO of SEACOR.
Fairwater’s seagoing and shoreside operations are headquartered in Fort Lauderdale, Florida, with offices in Fairfield, Connecticut; Houston; Jacksonville, Florida; and Seattle.
About Crowley
Crowley is a privately held, U.S.-owned and -operated maritime, energy, and logistics solutions company serving commercial and government sectors with $3.5 billion in annual revenues. It operates over 170 vessels, mostly in the Jones Act fleet, and employs approximately 7,000 people around the world. The Crowley enterprise has invested more than $3.2 billion in maritime transport, which is the backbone of global trade and the global economy. As a global ship owner-operator and services provider with more than 130 years of innovation and a commitment to sustainability, the company serves customers in 36 nations and island territories.
About SEACOR Holdings
SEACOR Holdings Inc., a portfolio company of American Industrial Partners, is a diversified holding company with interests in domestic and international transportation and logistics assets. American Industrial Partners is an operationally oriented private equity investor focused on buying industrial businesses with operations in the U.S., Canada, and other developed markets, creating value through business-building strategies. American Industrial Partners manages more than $16 billion on behalf of its limited partners.
About Fairwater
Fairwater Holdings LLC is a newly formed, independent U.S. company integrating Crowley and SEACOR’s petroleum and chemical transportation vessels, capabilities, and personnel to provide U.S. Jones Act shipping solutions. With a fleet of 31 owned vessels and ship management services for a diverse fleet of 20 third-party owned vessels, Fairwater operates in all major Jones Act coastwise tank vessel trades. Headquartered in Fort Lauderdale, Florida, with offices in Fairfield, Connecticut; Houston; Jacksonville, Florida; and Seattle, Fairwater is committed to delivering safe, flexible, and reliable energy transportation solutions.
Source SEACOR Holdings