Tuesday, April 8, 2014

Crowley Buys Ship Management Company

By Mark Edward Nero

Crowley Maritime Corp. said April 7 that it has acquired majority ownership of Accord Ship Management Ltd. and Accord Marine Management Pvt. Ltd.

Accord, which has offices in Hong Kong, India and the Netherlands, manages 23 vessels and has 55 employees. The acquisition is expected to result in a combined fleet of over 60 vessels managed. The deal also increases the size and scope of Crowley’s technical ship management group while supporting the company’s expansion into the international ship management market. It also makes Crowley one of the rare US companies that provide third-party international crewing and technical ship management.

“After several visits to observe their culture and operations, we are convinced that Accord is the right fit to complement Crowley’s existing operations,” Mike Golonka, Crowley’s vice president of ship management said in a statement announcing the acquisition. “Accord has built a team that allows access to trained, qualified mariners without the additional expense of third-party crewing companies, something potential customers are demanding.”

The Accord acquisition will be managed by Crowley’s ship management group, which provides all phases of commercial ship management along with full technical management and government contracting.

The Accord acquisition provides Crowley with an immediate international book of business and an established entry into the international ship management market. Accord also offers Crowley the opportunity to provide additional and more regionalized support to its worldwide operations, including its solutions, liner, logistics, petroleum services and salvage.