Read Authentic Ratings for the Pennsylvania

In a strategic move, Jacksonville, Florida's Crowley Maritime Corporation has officially sold two of its Jones Act tankers, the MT Pennsylvania and MT Florida, to Kinder Morgan Energy Partners, L.P. (NYSE: KMP) for an impressive $270 million. These tankers, each capable of carrying 330,000 barrels of cargo, have been engaged in long-term charters since their launch in 2012 and 2013, providing transportation services for gasoline, jet fuel, diesel, and crude oil. Notably, Crowley Maritime will retain management responsibilities for these vessels, ensuring that crewing and operational procedures remain unchanged. Tom Crowley, chairman and CEO, remarked, “This transaction supports Crowley in sustaining a balanced capital program.” He also highlighted that the company has poured over $1.5 billion into new, U.S.-constructed tanker vessels over recent years, expanding its fleet to 17 articulated tug barges (ATBs) and introducing four additional 330,000 barrel tankers scheduled for delivery in 2015 and 2016. Crowley Maritime remains steadfast in its mission to provide safe and reliable petroleum transportation services to its clientele.

In a dramatic rescue operation, the U.S. Coast Guard intervened to airlift a 54-year-old crew member from the tanker 'Pennsylvania', situated roughly 20 miles southeast of Cape Hatteras, North Carolina, on March 30, 2014. The ship's master alerted Coast Guard Sector North Carolina at 9:17 p.m. on March 29, reporting that a crew member was experiencing severe chest pain and required urgent medical assistance. Responding swiftly, the Coast Guard dispatched an MH-60 Jayhawk helicopter from Air Station Elizabeth City, North Carolina. The helicopter crew arrived at the scene around 12:30 a.m. on Sunday, successfully hoisted the affected crew member aboard, and transported him back to the base. From there, he was transferred to an ambulance that took him to Albemarle Hospital in Elizabeth City for further medical care.

In a significant move marking its return to the Jones Act tanker sector, Crowley Marine has acquired two tankers, named Pennsylvania and Florida, for $35 million each. This acquisition is Crowley's first foray into the tanker market since it retired its last vessel back in 2011. Scheduled deliveries are set for September 2012 and March 2013, respectively. Aker Solutions, the seller, will receive a total of $90 million for each ship, which encompasses a fixed purchase price along with a variable component that hinges on the vessels' market performance. Given the current market dynamics, Aker expects to garner an additional amount exceeding the base price of $35 million per tanker through this variable component.