Crowley acquires international ship management company AccordCompany News // April 8, 2014
Crowley Maritime Corporation has acquired majority ownership of Accord Ship Management (HK) Limited and Accord Marine Management Pvt Ltd.
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.
It will immediately increase the size and scope of Crowley’s technical ship management group while supporting the company’s expansion into the international ship management market with a foreign crewing presence. The acquisition also makes Crowley a rare US company - one that provides third-party international crewing and technical ship management.
With offices in Hong Kong, India (Mumbai and Goa), and the Netherlands, Accord currently manages 23 vessels. The company employs 55 people.
“When investigating international ship management companies that would allow Crowley to expand our business and create a greater presence outside of the US, we were careful to only pursue companies that share Crowley’s corporate values and culture, especially as they relate to safety,” said Mike Golonka, vice president, 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. 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.”
Accord provides Crowley with both an immediate international book of business and an established and respected entry into the international ship management market. The company also offers Crowley the opportunity to provide additional and more regionalized support to its worldwide operations, including its solutions, liner, logistics, petroleum services, and Titan Salvage groups.
The acquisition will result in a combined fleet of over 60 vessels managed for third-party owners.