Crowley and SEACOR Holdings made a joint announcement on August 6 regarding the successful formation of Fairwater Holdings LLC, an independent company made up of the former chemical and petroleum shipping fleets of both Crowley and SEACOR.
The company is fully compliant with the Jones Act, a section of the Merchant Marine Act of 1920 which requires that cargo transported between US ports must be carried on US constructed, US flagged, and US crewed vessels. This is vital for Fairwater which will use its fleet of 31 vessels to transport in-demand Alaskan crude oil to ports in the lower 48 states.
“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 enables Fairwater to serve as the industry’s next-generation provider of safe, highly flexible and reliable energy transportation solutions.”
“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,” said Tom Crowley, chairman and CEO of the Crowley Corporation, who also serves as chairman of Fairwater.
“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.
Shoreside operations for Fairwater are in Fort Lauderdale, Florida, but the company also maintains offices in Fairfield.
