Crowley, a vessel management, owner, and supply chain logistics services company, and SEACOR, a provider of equipment and services to the offshore petroleum industry, agreed to form Fairwater, that will leverage and scale both entities' unique operational and safety-focused capabilities to serve the US domestic market with vessels and marine transportation solutions across the petroleum and chemical trades. Financial terms were not disclosed. "Through this new joint venture, Fairwater will create more value for customers. Seabulk is an ideal and complementary partner with proven expertise in providing safe, sustainable and reliable maritime results and in driving innovation, much like Crowley. The new company will not only be a historic moment for Crowley and SEACOR, but it will also align with our continuing growth strategy with solutions for customers and partners that deliver clear benefits for today and promise to advance tomorrow," Tom Crowley, Crowley Chairman and CEO.