Crowley to Acquire Three SeaRiver Tankers

By Vessels

Crowley Alaska Tankers, LLC, announced yesterday that it has signed an agreement, subject to regulatory approval, to purchase three tankers from SeaRiver Maritime Inc., and charter them back to SeaRiver under varying multi-year terms.

Included in the acquisition are the tankers Liberty Bay and Eagle Bay, each of which have a capacity of 800,000 barrels and transport crude from Alaska to West Coast refineries; and the tanker SR American Progress, which has a capacity of 342,000 barrels and transports refined petroleum between U.S. Gulf and East Coast ports.

Crowley to Acquire Three SeaRiver Tankers
Caption: Crude oil tanker Eagle Bay - Image courtesy of Charles Cerrone

“We are proud of the SeaRiver acquisition and will operate these tankers with our relentless pursuit of quality and safety,” said Tom Crowley, chairman and CEO of Crowley Maritime Corp. “We were selected as the company who could deliver, and we are committed to doing just that – by operating these assets in the safest, most reliable manner possible.”

Crowley operates and manages the largest U.S.-flag petroleum and chemical tank vessel fleet in the country. By the end of 2017, the company will be operating 37 Jones Act qualified large petroleum transportation vessels in the United States with a combined capacity of more than 10 million barrels. Among this tank vessel fleet are a tanker and an articulated-tug-barge (ATB) already on charter to SeaRiver.

“We anticipate a smooth transition with SeaRiver crews, and look forward to personally welcoming them to the Crowley team,” said Rudy Leming, Crowley vice president of labor relations. “We know they share our values – safety, integrity and high performance – and will work diligently with us to uphold them as we serve SeaRiver’s needs.”  

Key to ensuring the success of this transaction and ongoing operations will be obtaining the necessary regulatory approvals to serve the Alaska and West Coast markets. Crowley will work together with regulators to ensure a seamless transition and continued safe operations.

“We have an excellent safety record, which we intend to uphold,” said Rob Grune, Crowley senior vice president and general manager, petroleum services. “Last year, for example, we transported 410 million barrels of product and made 4,868 product transfers with zero spills to environment – a credit to our professional, safety-minded crews and management systems.”

Source: Crowley