Crowley and SEACOR Holdings, through its subsidiary Seabulk Tankers, have announced an agreement to form a joint venture that will integrate their liquid energy and chemical transportation vessels, operations and related services into a new, independent US Jones Act service provider called Fairwater Holdings.
The Fairwater fleet comprises 20 ocean-going, articulated tug-barges and 11 tankers, many under long-term charter. The joint venture will provide crewing and technical management for an additional 21 third-party owned vessels.
Daniel Thorogood, CEO of Seabulk, will assume the CEO role at Fairwater. The joint venture will be based in Fort Lauderdale with offices in Fairfield, Houston, Jacksonville and Seattle.
The joint venture transaction is expected to close in the first quarter of 2024.