Fairwater

What Fairwater does

Fairwater Holdings LLC is a U.S. Jones Act maritime transportation company formed on August 1, 2024 as a joint venture between Crowley and SEACOR Holdings, integrating the petroleum and chemical transportation vessels, capabilities, and personnel of both companies — including SEACOR's former subsidiary Seabulk Tankers, Inc. The company is headquartered in Dania Beach, Florida and operates as an independent U.S. entity serving all major U.S. Jones Act coastwise energy and chemical trade lanes.

Fairwater's core offering is organized around three service lines: Ocean Transportation, using a fleet of 11 tankers and 20 articulated tug-barges with 1.7M+ DWT of capacity to move bulk clean petroleum, crude oil, renewables, and parcel chemicals; Ship Management Services, providing shoreside operations, maintenance, crewing, and labor relations to independent Jones Act vessel owners, major oil companies, and specialized international vessel types; and Engineering & Project Services, delivering front-end engineering, project management, and oversight for new vessel construction, major refits, and conversion projects in the U.S. and overseas. The asset base also includes 13 managed third-party vessels, bringing the active platform to roughly 44 hulls across 10+ trade lanes.

The business model is enterprise B2B and asset-heavy: revenue is generated through long-term contracts and spot voyage arrangements on the transportation side, managed services fees for third-party vessel management, and professional services fees for engineering and project work. GTM is direct enterprise field sales targeting major integrated and independent oil companies and Jones Act vessel owners; pricing is negotiated bilaterally and not publicly disclosed. CEO Dan Thorogood leads the company, with Chief Engineer Justin Reinert anchoring onboard safety culture.

Name

Fairwater

Legal name

Fairwater Holdings LLC

Website

https://seabulktankers.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Fairwater Holdings LLC is a Jones Act maritime transportation company operating a fleet of 11 tankers and 20 articulated tug-barges to transport petroleum, crude, renewables, and parcel chemicals across U.S. coastwise trade lanes, also providing ship management and engineering services to major oil companies and independent vessel owners.

Ownership category

akta.pro rank

Product category

Maritime Transportation Services

NAICS

Coastal and Great Lakes Freight Transportation (483113), Deep Sea Freight Transportation (483111), Other Support Activities for Water Transportation (48839)

SIC

Water Transportation (4400)

akta.pro primary industry

Dry Bulk Ocean Shipping (Capesize/Panamax/Handysize) (TLADAKAA)

Keywords

• Jones Act shipping
• Petroleum transportation
• Chemical carriers
• Ship management services
• Maritime logistics

Headquarters

HQ city

Dania

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Ocean Transportation Services: Transportation of petroleum and chemical products across all major Jones Act trade lanes using a fleet of tankers and articulated tug-barges. Revenue is generated through long-term contracts and spot voyage arrangements with energy sector clients.
2. Ship Management Services: Comprehensive shoreside vessel management services including operations, maintenance, crewing, and labor relations provided to independent Jones Act vessel owners and major oil companies.
3. Engineering and Project Services: Front-end engineering, management, and oversight services for new vessel construction and major refits or conversion projects in the U.S. and overseas.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Fairwater is a Jones Act compliant U.S. maritime solutions provider that transports petroleum and chemical products across all major U.S. coastwise trade lanes using a fleet of 11 tankers and 20 articulated tug-barges totaling 1.7M+ DWT. In addition to ocean transportation, the company delivers comprehensive ship management services (operations, maintenance, crewing, and labor relations) to independent vessel owners and major oil companies, and provides front-end engineering, project management, and oversight for new vessel construction, major refits, and conversion projects in the U.S. and overseas.

Product overview

Fairwater is a maritime transportation company offering three core services: Ocean Transportation (petroleum and chemical carriers), Ship Management Services (comprehensive vessel operations and maintenance), and Engineering & Project Services (newbuild and conversion project support). The company operates a diverse Jones Act fleet of 11 tankers, 20 articulated tug-barges, and manages 13 third-party vessels across 10+ trade lanes, with total capacity exceeding 1.7 million DWT.

Differentiator

Problem solved

Functional benefit

Products and services

• Ocean Transportation Fleet-based Jones Act compliant ocean transportation of bulk clean petroleum, crude oil, renewables, and parcel chemicals across all major U.S. coastwise trade lanes, with specialized overseas capability. Targeted at major oil companies and energy sector clients requiring U.S.-flag coastwise shipping.
• Ship Management Services Specialized shoreside ship management services for independent Jones Act vessel owners, major oil companies, and internationally trading specialized vessel types. Covers operations, maintenance, crewing, and labor relations.
• Engineering & Project Services Turn-key engineering, project management, and oversight for new vessel construction and major refits or conversion projects in the U.S. and overseas. Serves ship owners and operators with complex vessel projects requiring expert maritime engineering oversight.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• CrowleycoreStrategic or Co-development Partner · 1 August 2024Crowley partnered with SEACOR Holdings to form Fairwater Holdings LLC, integrating Crowley's petroleum and chemical transportation vessels, capabilities, and personnel with those of SEACOR's former subsidiary Seabulk Tankers, Inc. Fairwater is an independent U.S. company launched August 1, 2024.
• SEACOR HoldingscoreStrategic or Co-development Partner · 1 August 2024SEACOR Holdings partnered with Crowley to form Fairwater Holdings LLC, integrating SEACOR's Seabulk Tankers, Inc. assets and personnel with Crowley's transportation capabilities. Fairwater is an independent U.S. company launched August 1, 2024.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Regional players

• International Seaways: Large international tanker operator with crude and product tonnage. Comparable in vessel platform and cargo exposure, but operates globally rather than in U.S. coastwise Jones Act trade.
• Overseas Shipholding Group: U.S.-based tanker company operating internationally flag-flexible crude and product tankers. Comparable vessel type and cargo mix, but operates outside the Jones Act coastwise restricted market.

Direct peers

• Centerline Logistics (Ingram Marine Group): Major Jones Act tank barge operator transporting petroleum and chemicals on the U.S. coast and inland waterways. Direct competitor on coastwise petroleum trades.
• Bouchard Transportation: Long-established Jones Act tank barge and tug operator transporting petroleum and chemical products along the U.S. coast. Closely comparable in fleet type, cargo mix, and customer base to Fairwater.
• Kirby Corporation: Largest U.S. inland and coastal tank barge operator. Most direct comparable to Fairwater's Jones Act petroleum and chemical tanker/ATB operations, competing head-to-head on Gulf and coastal trade lanes.
• Vane Brothers: Privately held Jones Act tug and tank barge operator on the U.S. East Coast. Comparable cargo mix (petroleum and chemicals) and Jones Act trade lane exposure to Fairwater's operations.
• Genesis Energy (Marine Transportation segment): U.S. Gulf Coast marine transportation of crude oil and refined products via owned and leased barges and tankers. Comparable Jones Act petroleum cargo exposure and Gulf Coast trade lane focus.
• Moran Towing Corporation: U.S. East and Gulf Coast tugboat and barge operator with petroleum and chemical transportation. Comparable tug/ATB operations and Jones Act coastwise customer base.

Broad incumbents

• Crowley Maritime Corporation: Parent JV partner of Fairwater and broader diversified maritime operator. Highly comparable in Jones Act petroleum/chemical shipping, but operates additional non-energy lines including logistics, government services, and international shipping.
• SEACOR Marine Holdings: Sister company from shared parent SEACOR Holdings, operating offshore support vessels globally. Related through common ownership and prior Seabulk Tankers integration, but focused on offshore energy support rather than Jones Act coastwise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fairwater-holdings-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fairwater