TITAN Salvage Announces Organizational Changes

Dan Schwall Promoted to Vice President, Phil Reed Promoted to General Manager

(Pompano Beach, Fla.; Dec. 9, 2008) – TITAN Salvage, Crowley Maritime Corporation’s salvage and wreck removal company, announced today that Dan Schwall has been promoted to vice president and Phil Reed has been promoted to general manager, salvage and engineering. Both promotions become effective Jan. 1, 2009 and both Schwall and Reed will be domiciled at the Pompano Beach, Fla., headquarters.

Schwall will report directly to Todd Busch, senior vice president and general manager of Crowley’s technical services group. In his new role he will have profit and loss (P&L) management responsibility for TITAN along with its world salvage activities.

Schwall joined TITAN in 2000 managing the daily operations of TITAN’S global salvage and wreck removal business and overseeing contracting and equipment chartering. He also served the company as a project manager and salvage master. Prior to TITAN, Schwall spent his career working aboard U.S. flagged merchant vessels, before sailing as an able seaman, mate and engineer for ocean going tugs and dredges. He was also the operations manager of the towing and salvage division and general manager of the salvage and firefighting subsidiary for a large U.S.-based marine services company. Schwall attended Rutgers University, Massachusetts Maritime Academy, Texas A&M University and the Lundenberg School of Seamanship. He also serves as a director for the Marine Response Alliance (MRA).

“Dan brings years of maritime experience to his new role,” said Busch. “Not only has he sailed on vessels, but he’s served in different salvage and vessel-related shore side capacities, including eight years with TITAN.”

In his expanded role, Reed will report to Schwall and will oversee TITAN’s salvage masters, naval architects and salvage assets. He will be responsible for all engineering and technical aspects of the group’s salvage and wreck removal activities.

Phil Reed joined TITAN in 2000 as the senior naval architect/vice president at the U.S. facility. In 2004, he assumed responsibility for the technical planning and execution of many of TITAN’S salvage and wreck removal projects in the role of naval architect, salvage master and project manager, while simultaneously focusing on labor relations and recruiting. Reed is a 1984 graduate of the U.S. Merchant Marine Academy. He holds a master’s degree in ocean engineering from the Florida Institute of Technology.

“Phil’s knowledge of salvage engineering and years of onsite salvage experience has helped Titan gain its reputation as a problem solver,” said Busch.

TITAN, which is a wholly owned Crowley subsidiary, is a worldwide salvage company based in Fort Lauderdale, Fla. The company also has offices in Newhaven, UK and Singapore along with an equipment depot in Batam, Indonesia. Over the past 28 years, TITAN has performed more than 300 salvage and wreck removal projects worldwide. Titan responds to vessel emergencies around the world and is accessible 24 hours a day through the company’s main dispatch telephone number, 954-929-5200. Additional information about TITAN may be found at www.titansalvage.com.

Jacksonville-based Crowley Holdings Inc., a newly formed holding company of the 116-year-old Crowley Maritime Corporation, 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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