New Jones Act Shipping Company Launches

A new Jones Act compliant shipping firm has been launched in the U.S.. Crowley and SEACOR Holdings are the two companies behind the new venture which has been named Fairwater Holdings. 

The new company sees the integration of Crowley’s and SEACOR Holdings’ petroleum and chemical transportation vessels into a single Jones Act compliant shipping solution.

According to a statement from SEACOR Holdings, Fairwater Holdings will be active in all major Jones Act coastwise tank vessel trades and will support the transportation of petroleum products, chemical and specialty parcels as well as Alaskan crude oil. 

Fairwater Holdings’ fleet will comprise 31 owned vessels, including conventional medium-range tankers and ‘ECO’ tankers. Other vessels within the fleet include 114,000 DWT Aframax tankers and articulated tug-barges (ATBs). Fairwater is also expected to provide ship management services for a diverse fleet of 20 third-party owned vessels.

Commenting on the new venture, Daniel Thorogood, the new CEO of Fairwater Holdings, said: 

“I am excited to lead a team of nearly 1,700 seagoing and shoreside professionals under the new Fairwater banner. 

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”. 

Eric Fabrikant, the CEO of SEACOR added his comments, saying: 

“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”.

Fairwater Holdings’ seagoing and shoreside operations will be headquartered in Fort Lauderdale, Florida. Additional operations will also be maintained in Fairfield, Connecticut; Houston; Jacksonville, Florida; and, Seattle. 

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