Crowley – Puerto Rico Port Authority Sign Long-Term Lease Extension for Crowley’s Isla Grande Port Terminal in San Juan
(San Juan, Puerto Rico; Sept. 26, 2008) – Crowley Maritime Corporation’s liner services group and the Puerto Rico Port Authority announced on Wednesday the signing of a new lease that will keep Crowley at its Isla Grande terminal for up to 20 years and allow for multimillion-dollar investment by the company in terminal infrastructure to grow its business and offer even better service to customers.
The new contract, announced at a Port Authority news conference, is a significant milestone in Crowley’s 54 years of service to the island commonwealth. The contract extends Crowley’s terminal lease for at least 10 years, to, if options are exercised, up to 20 years, with the term running through September 2028.
“Most importantly, this agreement paves the way for future multi-million-dollar infrastructure and equipment investment for our Puerto Rico operations,” said Rob Grune, Crowley senior vice president and general manager, Puerto Rico/Caribbean services. “In addition, this new contract is further evidence of our continued long-term commitment to our customers and to the people of Puerto Rico, whom we have been privileged to serve for some 54 years.”
Investment in Puerto Rico is nothing new to Crowley. The company routinely spends tens of millions of dollars on new equipment, vessel improvements and terminal infrastructure each year.
Crowley and its predecessor company have been serving the Puerto Rico market since 1954, longer than any other carrier in the trade. The company, with more than 200 Puerto Rico employees, is also the No. 1 ocean carrier between the island commonwealth and the U.S. mainland with more weekly sailings and more cargo carried annually than any other shipping line.
Jacksonville-based Crowley Maritime Corporation, founded in San Francisco in 1892, is a privately held family and employee-owned company that provides diversified transportation 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 the following services: liner container shipping, logistics, contract towing and transportation; ship assist and escort; energy support; salvage and emergency response; vessel management; vessel construction and naval architecture; 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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