Crowley Announces Sale of Two Tankers to Kinder Morgan
Crowley Maritime Corporation’s petroleum services group announced today that it has sold two Jones Act tankers, the Pennsylvania and Florida, to Kinder Morgan Energy Partners, L.P. (NYSE: KMP). Crowley will continue to manage the vessels with no changes in crewing or operations. The tankers have been under long term charter transporting gasoline, jet fuel, diesel and crude oil since being placed into service in 2012 and 2013 respectively.
“This transaction helps Crowley maintain a healthy balance in our capital program,” said Tom Crowley, chairman and CEO. “We have invested more than $1.5 billion in new, U.S.-built tank vessels in recent years, giving us a fleet of 17 articulated tug barges (ATBs) and four new 330,000 barrel tankers being delivered in 2015 and 2016. We are committed to continuing to provide safe and reliable petroleum transportation to our customers.”
Under the new ship management agreement with Kinder Morgan for the Pennsylvania and Florida, Crowley will continue to utilize sailors from the American Maritime Officers Union and Seafarers International Union, who have safely operated these tankers since their inception. The company’s ship management group provides worldwide technical management, operating ships for others as if they belonged to Crowley.
“Kinder Morgan’s continued expansion into the Jones Act tanker market demonstrates our commitment to provide customers with a variety of safe and efficient means to store and transport crude, petroleum products and chemicals,” said John Schlosser, president of KMP’s Terminals segment. “We are delighted to expand our relationship with Crowley, a premier provider of marine transportation services.”
Jacksonville-based Crowley Holdings Inc., a holding company of the 122-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 Liner Services, Caribbean and 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.