Crowley Maritime Corporation, based in Jacksonville, Florida, and founded in 1892, is primarily a family and employee-owned company that provides transportation and logistics services in U.S. and international markets by means of six operating lines of business: Puerto Rico/Caribbean Liner Services, Latin America Liner Services, Logistics Services, Petroleum and Chemical Transportation, Petroleum Distribution and Contract 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.
As of June 2010, the company employs approximately 4,500 people worldwide and provides its services using a fleet of more than 300 vessels, consisting of RO-RO vessels, LO-LO vessels, tankers, Articulated Tug-Barges (ATBs), tugs and barges. Crowley's land-based facilities and equipment include terminals, warehouses, tank farms, and specialized vehicles.

Crowley Maritime Corporation, incorporated on December 1, 1972, provides diversified transportation services in domestic and international markets. The Company also provides fuel transportation and distribution services domestically. Its primary operations are located in the continental United States, Alaska, Puerto Rico, Mexico, Central America, the Caribbean Islands, Russia and other international markets. The Company operates through four segments: Liner Services, Logistics Services, Marine Services and Petroleum Services. Liner Services provides ocean transportation services between designated ports in Puerto Rico, Central America and the Caribbean Islands, as well as a range of cargo transportation services, including the carriage of containers, trailers, vehicles and oversized cargo. Logistics Services provides freight forwarding, ocean transportation services, airfreight services, warehousing and distribution services, customs clearance, trucking and other logistics activities. Marine Services provides ship assist and escort services. Petroleum Services transports crude oil, petroleum products and chemicals among ports in the contiguous United States, Alaska and the Gulf of Mexico.
In January 2007, the Company acquired the tanker escort business of SeaRiver Maritime, Inc. (SeaRiver). On October 1, 2006, the Company acquired Fast Fuel LLC, (Fast Fuel), a fuel distribution business in Alaska. On January 1, 2006, the Company acquired Columbus Distributing, Inc. and Ev-Jo, Inc. (collectively CDI), which is also engaged in a fuel distribution business in Alaska.
Liner Services
Liner Services provides scheduled marine transportation services between designated ports for the carriage of cargo, including containers, trailers, vehicles and oversized cargo. At December 31, 2006, Liner Services provided service to the territory of Puerto Rico and approximately 23 countries in the Caribbean and Central America with 36 ocean going ships, tugs and barges capable of carrying approximately 12,400 twenty foot equivalent units (TEUs). Liner Services owns or leases approximately 47,600 pieces of intermodal equipment, which includes containers, trailers and chassis.
The Company competes with Horizon Lines, Trailer Bridge, Sea Star Line, LLC, Tropical Shipping, Maersk/Sealand, Seaboard and American President Line.
Logistics Services
Logistics Services performs transportation management and special cargo handling services through its offices in the United States, Panama, Costa Rica, Honduras, Guatemala, El Salvador and throughout the world with its network of agents. These services include freight forwarding, ocean transportation and airfreight to points throughout the world; warehousing and distribution services, customs clearance and trucking within the United States and Central America, and package activities intended to create efficiencies in the carriage of goods.
Crowley Maritime Corporation competes with Maersk Logistics, APL Logistics, Econocaribe, Seaboard Solutions and Tropical Shipping.
Marine Services
Marine Services provides an array of services on a worldwide basis. Marine Services maintains a fleet of 158 vessels over a large geographic area. Included in its fleet are 49 tugs ranging in length from 85 feet to 150 feet with between 470 and 10,192 brake horsepower; 88 barges varying in size, capacity and capability, including flat deck barges designed for the carriage of heavy loads; two crewboats, and two supply boats. The flat deck barges are unmanned and require the use of the Company's tugs to be moved between job locations. Marine Services occupies approximately 15 acres of shore side terminals located in Seattle, Washington. It also provides vessel management services for 17 vessels belonging to third parties, including five container vessels owned by commercial companies and 12 vessels owned by the United States government.
Marine Services provides specialized services to companies engaged, on a worldwide basis, in the exploration, production and distribution of oil and gas. Areas of operation extend from Prudhoe Bay, Alaska to the Gulf of Mexico and west to the Russian Far East. These services are provided through specialized marine transportation projects utilizing assets either owned or chartered by the Company. In addition, Marine Services offers turnkey project management for major infrastructure projects, and logistics and inventory control services for the oil and gas industry. Marine Services provides worldwide marine salvage and wreck removal services through Titan Maritime, LLC. A portion of marine salvage and wreck removal business is conducted under a Lloyd’s Standard Form of Salvage Agreement (LOF). Marine Services also provides ship assist, tanker escort, docking and related services in Oakland, San Diego, Los Angeles and Long Beach, California, Puget Sound, Washington and Valdez, Alaska. In addition to providing ship assist and escort services, the tugs and barges based in Valdez, Alaska are also capable of providing fire fighting and oil spill response services, and are predominantly used for these services.
The Company provides various marine services to the Alyeska Pipeline Service Company (Alyeska) pursuant to a long-term master time charter as amended and restated, on January 1, 1999 (the Master Time Charter), and other related agreements. Alyeska is agent for the owners of the Trans-Alaska Pipeline. Under the Master Time Charter, Alyeska may, pursuant to individual charter orders that set forth the specific terms and conditions of each time charter, time charter from the Company vessels either owned by it or chartered from third parties, as required to provide tanker escort and docking services, emergency response in the event of an actual or potential pollution incident, firefighting and other related services needed by those oil companies that transport crude oil by tanker from Alaska to the continental United States.
Crowley Maritime Corporation bareboat charter from Prince William Sound Corporation eight vessels and 48 mini-barges, which are time chartered by it to Alyeska for oil spill, oil recovery and emergency response services. A number of these vessels are on standby throughout Prince William Sound solely for emergency response to oil spills. Marine Services also provides vessel management services to third parties with vessels that operate worldwide.
The Company competes with Starlight Marine Services, Millennium Towing Company, Tidewater, Edison Chouest, Delta Towing, Dolphin Towing, Harvey Gulf Marine, McDonough Marine Service, McDonough Marine Services, Otto Candies Marine Transportation, Towing, Smith Maritime, Foss Maritime, Seacoast, Sause Brothers, Brusco, Dunlap Towing, Baydelta, Lynden, Northland Services, Seacor Smit, Seaspan, Seaspan Cyprus, Ltd., Anchor Marine Transport of Great Britain, ITC Towing of the Netherlands, Fairplay Towing, Dockwise, Blue Marlin and Wijsmuller.
Petroleum Services
The ocean going vessels used by Petroleum Services consist of tugs, barges (including articulated and integrated tug/barges) and tankers. In each case, the vessels are made of steel, and contain a series of tanks, valves, pumps, generators and other equipment required for the carriage of liquid cargoes. All of the Company's barges (including articulated and integrated tug/barges) and tankers are equipped with pumps, which are capable of discharging the cargoes that have been loaded by shore-based facilities.
Petroleum Services operates a number of vessels used for the carriage of crude oil, petroleum products and chemicals, including six articulated tug/barge units with capacities of up to approximately 27,000 long tons, two integrated tug/barge units with capacities of up to approximately 46,200 long tons, two tankers and 42 petroleum barges with capacities of up to 16,200 long tons, which are primarily towed by 30 tugs owned by the Company. The tankers, barges and other specially designed vessels carry crude oil, petroleum products and chemicals among refineries and storage terminals on the East Coast and West Coast of the United States, the Gulf of Mexico and Alaska, and among ports in Puerto Rico and the Gulf of Mexico. In addition, Petroleum Services charters one tug and one tank barge for approximately six months of the year for the carriage of petroleum products in support of Crowley’s Alaska distribution business and provides vessel management services for six ready-reserve vessels owned by the United States government. Petroleum Services also owns and/or operates tank farms in Alaska. A number of the Company's oil barges are used to carry petroleum products purchased for its account to and among various Alaskan ports.
The Company's competitors include Seabulk International, Sause Brothers, Moran Towing Corp., Bouchard Transportation Co., Penn Maritime Inc., Hornbeck Offshore Services, Allied Towing Corp., American Heavylift Shipping Co., United States Shipping Partners L.P., Overseas Shipping Group., Keystone Shipping Co., Keystone Shipping Co., K-Sea Transportation Partners L.P., Delta Western, Sirius Marine and Northern Transport.

In 1992 Crowley underwent a legal reorganization. The 45 companies owned by Crowley were divided into two corporations based on the types of services they performed. Crowley American Transport, Inc. was created to encompass all companies that carry cargo on oceanliners or perform related services. The remainder of the companies, primarily those that provide marine contract services such as tugboat operations, were organized as Crowley Marine Services, Inc. The privately held Crowley Maritime Corporation would serve as a holding company maintaining full ownership of both corporations.
In mid-1994 the top leadership of Crowley Maritime changed for only the second time in company history; at age 28, Thomas B. Crowley, Jr., was elected chairman, president, and CEO following the death of his father from prostate cancer. Also in 1994 Crowley American Transport began scheduled service to the Bahamas from Port Everglades, Florida. Crowley Marine Services formed two joint ventures, Marine Response Alliance (established in 1994) and Clean Pacific (1995) to provide emergency service in accordance with the Oil Pollution Act of 1990.
In 1995 the San Francisco local of the International Longshore & Warehouse Union refused to allow Crowley Maritime to reduce crew sizes by one, prompting the company to pull its tugboats and ships out of its home port, after 100 years operating there. Crowley moved the vessels to Seattle and Los Angeles. Around this same time, an exhaustive study, dubbed Focus 2000, led to the identification of core activities for Crowley Marine Services: oil transportation, contract barge and towing services, marine fuel sales and distribution in western Alaska and Puerto Rico, docking and emergency response services for tankers, vessel salvage and spill cleanup services, western Alaska deck cargo services, and all-terrain transportation services. The study resulted in the divestment of several noncore operations, including the Red and White Fleet ferrying service as well as Catalina Cruises, both of which were sold in 1997.
In 1996 and 1997, Crowley American Transport greatly expanded its Central American operations, adding vessels and weekly fixed-day sailings. Crowley Maritime created a new subsidiary called Vessel Management Services, Inc. in 1996 to be responsible for the design, engineering, construction, and ownership maintenance of new company vessels. The following year another new subsidiary, Crowley Petroleum Transport, Inc., was inaugurated with the purchase of two 658-by-100-foot, double-bottom oil tankers that would provide bulk oil transportation in the U.S. tanker trades. Also in 1997 Crowley American Transport expanded geographically, adding Chile to its U.S. East Coast-West Coast South America service. Estimated 1997 revenues for Crowley Maritime were in excess of $1.1 billion, and the company had about 5,000 employees that year.
Principal Subsidiaries: Crowley American Transport, Inc.; Crowley Marine Services, Inc.; Crowley Petroleum Transport, Inc.; Vessel Management Services, Inc.


OVERALL
Beta: 0.00
Market Cap (Mil.): $--
Shares Outstanding (Mil.): 0.09
Annual Dividend: --
Yield (%): --
FINANCIALS
CWLM.PK Industry Sector
P/E (TTM): -- 12.40 16.70
EPS (TTM): -12.23 -- --
ROI: 4.37 5.39 3.22
ROE: 10.20 10.18 5.81



Statistics:
Private Company
Incorporated: 1906 as Crowley Launch and Tugboat Company
Employees: 5,000
Sales: $1.1 billion (1997 est.)
NAIC: 483111 Deep Sea Freight Transportation; 483113 Coastal & Great Lakes Freight Transportation; 48831 Port & Harbor Operations; 48833 Navigational Services to Shipping; 48411 General Freight Trucking, Local; 484121 General Freight Trucking, Long-Distance, Truckload; 49311 General Warehousing & Storage; 336611 Shipyard

Name Age Since Current Position
Crowley, Thomas 40 1994 Chairman of the Board, President, Chief Executive Officer
Pennella, William 62 2000 Vice Chairman of the Board, Executive Vice President
Mead, Arthur 40 2006 Senior Vice President, General Counsel
Warner, Daniel 38 2006 Senior Vice President, Treasurer
Calvin, John 47 2005 Senior Vice President, Controller
Rodgers, Susan 57 2005 Senior Vice President - Administration
Swinton, Richard 59 2000 Vice President - Tax and Audit
Bowles, Philip 55 1986 Director
Crowley, Molly 68 1994 Director
Depolo, Gary 71 1994 Director
Kivett, Earl 59 2002 Director
Prussia, Leland 78 1994 Director
Verdon, William 66 2005 Director
Wolfe, Cameron 67 1989 Director


Address:
155 Grand Avenue
Oakland, California 94612
U.S.A.
 
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