Crowley Plans $800m Fleet Expansion

1 September 2009 (Last Updated September 1st, 2009 18:30)

Maritime transportation services company Crowley Maritime said it is planning to invest $800m to increase its fleet over the next five years. The company is planning to build 17 articulated tug barges with capacities ranging from 155,000 barrels to 300,000 barrels, Crowley said.

Maritime transportation services company Crowley Maritime said it is planning to invest $800m to increase its fleet over the next five years.

The company is planning to build 17 articulated tug barges with capacities ranging from 155,000 barrels to 300,000 barrels, Crowley said.

The new fleet will enable the company to focus more on the US West Coast and Gulf Coast petroleum hauling industry and pull heavier cargo, hellenicshippingnews.com reports.

Crowley is also planning to order two 156ft tugboats having 11,000 horsepower, which is about 4,000 horsepower more than the average tugboat.

The shipping firm has also signed a contract for two 400ft heavy-lift barges that can be used to move rigs for the offshore drilling industry, Crowley said.