Crowley Acquisition of Accord Ship Management (HK) Limited and Accord Marine Management Pvt. Ltd. Named AI’s “Deal of the Year”
To read the article, visit page 48 of Acquisition International Magazine.
(Jacksonville, Fla; January 6, 2015) – Acquisition International Magazine (AI) has named the Crowley Maritime Corp. acquisition of Accord Ship Management (HK) Limited and Accord Marine Management Pvt. Ltd. as the Asia Pacific region’s “Deal of the Year.” The acquisition of a majority interest in the companies, which took place in March 2014 and marked the formation of Crowley Accord Management Pvt. Ltd., is now managed by Crowley, which provides all phases of commercial ship management, full technical management and government contracting.
Since 2010, AI annual awards have celebrated excellence, innovation and performance across the business, legal, financial and investment industries. Through these honors, the magazine seeks to recognized companies that are the most deserving while providing a comprehensive analysis of the industries and their experts. Award winners are determined by industry partner votes, supporting evidence and in-house research ensuring that the awards are a true representation of the market and that the winners are indeed at the cutting edge of their fields. AI awards are broken down first by region and then into wider categories, ensuring that every firm has an equal chance – from local to global, niche to full service.
Crowley’s ship management team currently oversees a combined fleet of more than 60 vessels, making it the largest ship management organization in the United States. The Crowley Accord acquisition, however, immediately increased the size and scope of Crowley’s ship management group while supporting the company’s expansion into the international ship management market with a foreign crewing presence. The acquisition thus made Crowley a rare U.S. company to provide third-party international crewing and technical ship management.
In the Asia Pacific region, day-to-day operations of Crowley Accord are managed by Sanjay Shesh, managing director, from the company’s Mumbai office.
“Crowley is pleased to be honored by AI as a result of the acquisition, which gave us a respected entry into the international ship management trade and aligned us with a company that holds similar core values – especially that of safety,” said Mike Golonka, vice president, ship management. “The award validates the impact that this deal has on the ship management industry. We saw a need to better service our customers and by acquiring Accord, we have expanded our offerings to meet their demands.”
“Crowley Accord is committed to offering economical, safe and complete ship management solutions to all of our customers in the Asia Pacific Region and beyond,” said Shesh. “Our partnership with Crowley has allowed Crowley Accord to operate on a higher level with a diversified portfolio of services and global backing that we did not have before.”
Crowley’s solutions group encompasses ship management along with several of the company’s other essential business functions – project management for the energy and resource extraction industries; marine salvage, wreck removal and emergency response; heavy lift barge transportation; ocean towing; marine engineering, naval architecture and construction management; remote fuel management; project concept study development and government services. With main offices, equipment depots and vessel homeports in Jacksonville, Fla.; Houston, Texas; Seattle, Wash.; and New Orleans, La.; supplemented by those the company has internationally, Crowley is positioned to respond to a variety of maritime projects around the globe quickly, efficiently and most importantly – safely. To learn more about Crowley’s ship management or solutions group, please visit: www.crowley.com/shipmanagement or www.crowley.com/solutions.
Jacksonville-based Crowley Holdings Inc., a holding company of the 123-year-old Crowley Maritime Corporation, is a privately held family and employee-owned company. The company provides project solutions, energy and logistics services in domestic and international markets by means of six operating lines of business: Puerto Rico/Caribbean Liner Services, Latin America Liner Services, Logistics Services, Petroleum Services, Marine Services and Technical Services. Offered within these operating lines of business are: liner container shipping, logistics, contract towing and transportation; ship assist and escort; energy support; salvage and emergency response through its TITAN Salvage subsidiary; vessel management; vessel construction and naval architecture through its Jensen Maritime subsidiary; government services, and petroleum and chemical transportation, distribution and sales. Additional information about Crowley, its subsidiaries and business units may be found on the Internet at www.crowley.com.
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