Ho! Ho! Ho! Crowley Adds Vessel Capacity in its U.S.
(JACKSONVILLE, Fla.; October 31, 2005) To meet the needs of its customers shipping to the Virgin Islands and Eastern Caribbean during the peak holiday season, Crowley has acquired the use of a third container ship, the Wesertor, to sail between Port Everglades, St. Thomas and St. Croix.
The addition of the 230 TEU ship increases Crowleys weekly cargo carrying capacity to the Virgin Islands by 19 percent. The Wesertor is a Lift On/Lift Off (Lo/Lo) ship and sails on a 10-day rotation.
The addition of this short-term charter to the Virgin Islands and Eastern Caribbean service is another example of how Crowley is deploying extra assets to meet customer needs during the holiday season, said Joel Klenck, vice president, Bahamas and Caribbean services.
The Wesertor joins Crowleys container ships, Sea Cloud and Sea Gale, in the service. These 530 TEU vessels call St. Thomas and St. Croix every Sunday and Monday, respectively followed by calls in Trinidad, Barbados and St. Vincent. Additionally, Crowley provides service to the islands of Anguilla, Montserrat, Nevis, Saba, St. Barts, St. Eustatius, St. John, St. Kitts, St. Maarten Tortola, Virgin Gorda, Bermuda, Canouan, Guadeloupe, Martinique and Tobago via relay service.
Oakland-based Crowley Maritime Corporation, founded in 1892, is primarily a family and employee-owned company that provides diversified transportation and logistics services in domestic and international markets by means of four operating lines of business: Liner Services; Logistics Services; Petroleum Services and Marine Services. Other services provided within these business lines include contract towing and transportation; ship assist and escort; energy support; salvage and emergency response; vessel management, 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.
Safe Harbor Statement Under the Private Litigation Securities Litigation Reform Act of 1995:
Certain statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words or phrases “can be,” “expects,” “may affect,” “anticipates,” “may depend,” “believes,” “estimates,” “plans,” “projects” and similar words and phrases are intended to identify such forward-looking statements. These forward-looking statements are subject to various known and unknown risks and uncertainties and the Company cautions that any forward-looking information provided by or on behalf of the Company is not a guarantee of future results, performance or achievements. Actual results could differ materially from those anticipated in these forward-looking statements due to a number of factors, some of which are beyond the Company’s control.
In addition to those risks discussed in public filings, press releases and statements by the Company’s management, factors that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied in such forward looking statements include: (i) changes in worldwide demand for chemicals, petroleum products and other cargo shipped by the Company’s customers; (ii) the cyclical nature of the shipping markets in which the Company’s Liner Services segment operates; (iii) changes in domestic and foreign economic, political, military and market conditions; (iv) the effect of, and the costs of complying with, federal, state and foreign laws and regulations; (v) the impact of recent and future acquisitions and joint ventures by the Company on its business and financial condition; (vi) fluctuations in fuel prices; (vii) the Company’s ongoing need to be timely in replacing or rebuilding certain of its tankers and barges currently used to carry petroleum products; (viii) competition for the Company’s services in the various markets in which it operates; (ix) risks affecting the Company’s ability to operate its vessels or carry out scheduled voyages, such as catastrophic marine disaster, adverse weather and sea conditions, and oil, chemical and other hazardous substance spills; (x) the effect of pending asbestos or other toxic tort related litigation and related investigations and proceedings; (xi) the state of relations between the Company and its unionized work force as well as the effects of possible strikes or other related job actions; (xii) risks associated with the construction of articulated tug-barge units; and (xiii) risks associated with the Company’s foreign operations.
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