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