Crowley and SEACOR form Fairwater Holdings
Crowley and SEACOR Holdings (“SEACOR”) jointly announced the successful formation of Fairwater Holdings LLC (“Fairwater”). 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, differentiating it from industry peers, and supports the transportation of petroleum products, chemical and specialty parcels as well as Alaskan crude oil. The 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. Fairwater also provides ship management services for a diverse fleet of 20 third-party owned vessels.
Fairwater’s seagoing and shoreside operations are headquartered in Fort Lauderdale, Florida.
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, over 170 vessels mostly in the Jones Act fleet and approximately 7,000 employees around the world throughout its enterprise and associated companies – employing more U.S. mariners than any other company. The Crowley enterprise has invested more than $3.2 billion in maritime transport, which is the backbone of global trade and the global economy.
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 that is distinctively focused on buying industrial businesses with operations in the U.S., Canada, and other developed markets and creating value through business building strategies. American Industrial Partners manages more than $16 billion on behalf of its limited partners.
