Crowley and ESVAGT have executed additional joint venture agreements that further strengthen their commitment to support purpose-built, Jones Act vessel development and availability for U.S. offshore wind production.
The new agreements, which follow the original agreement between the companies in 2021, will support their joint efforts for service operation vessels (SOVs). The latest additions focus on the financial and development efficiencies in the vessel development process between the companies.
The venture was created to develop a best-in-class design and deliver wind-dedicated, U.S flag SOV vessels. Consistent with the requirements of the U.S. Jones Act, Crowley will own and operate the vessels crewed with its U.S. mariners, while Crowley and ESVAGT will share in the economics of the venture.
“The enhancement of this venture will help bring these important service operation vessels to the U.S. offshore wind market to meet the nation’s clean, sustainable energy demands,” said Crowley’s Jeff Andreini, vice president, New Energy division. “As we increase our organizations’ shared capabilities, we will help propel the continued growth of maritime and logistics solutions to help solve the nation’s vessel capacity demands in a responsible and sustainable way.”
A pioneer in the SOV concept in Europe, ESVAGT possesses an unparalleled experience in safely transferring people to offshore wind farm installations from a fleet of innovative and specialized vessels operated by highly qualified crew: annually, ESVAGT safely transfers more than 250,000 personnel members from SOV to offshore wind farm installations.
“ESVAGT is proud to be an active player supporting our customers in the green transition. Crowley and ESVAGT share an ambition for a sustainable future, and we’re committed to take the lead in decarbonizing the maritime industry. In ESVAGT we’re delighted and proud to be a first mover of emission free SOV’s and have ordered the world’s first e-Methanol driven SOV to be delivered in 2024. Only through innovative solutions and commercial courage it is possible to overcome the threatening climate change”, says Peter Lytzen, CEO at ESVAGT.
Through its commitment to sustainability and net-zero emissions, Crowley has expanded capabilities in the clean energy sectors. This includes announced plans to develop and operate a wind services terminal in Salem, Mass., to serve the Commonwealth Wind offshore installation and other industry services. In addition, Crowley has developed a network of certified offshore wind training programs in the U.S. The company is also building the first U.S. all-electric, zero-emissions harbor tug and developing sister platforms.
About Crowley
Crowley is a privately held, U.S.-owned and -operated maritime, energy and logistics solutions company serving commercial and government sectors with nearly $2.9 billion in annual revenues, over 170 vessels mostly in the Jones Act fleet and approximately 7,000 employees around the world – employing more U.S. mariners than any other company. The Crowley enterprise has invested more than $3 billion in maritime transport, which is the backbone of global trade and the global economy. As a global ship owner-operator and services provider with more than 130 years of innovation and a commitment to sustainability, the company serves customers in 36 nations and island territories through four business units: Crowley Logistics, Crowley Shipping, Crowley Solutions and Crowley Fuels. Additional information about Crowley, its business units and subsidiaries can be found at www.crowley.com.
. The latest additions focus on the financial and development efficiencies in the vessel development process between the companies. The venture was created to develop a best-in-class design and deliver wind-dedicated, U.S flag SOV vessels. Consistent with the requirements of the U.S. Jones Act, Crowley will own and operate the vessels crewed with its U.S. mariners, while Crowley and ESVAGT will share in the economics of the venture.){kind=link}