Crowley Sells Two Jones Act Tankers

Crowley Maritime Corporation’s petroleum services has sold two Jones Act tankers, the Pennsylvania and Florida, to Kinder Morgan Energy Partners, L.P.

Crowley said that it would 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 USD 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.”

Under the new ship management agreement with Kinder Morgan for the Pennsylvania and Florida, Crowley said it would continue to utilize sailors from the American Maritime Officers Union and Seafarers International Union.

Crowley Maritime Corporation’s petroleum and chemical transportation group purchased the two Jones Act tankers from Aker Philadelphia Shipyard ASA in August, 2012.

Press Release