Connections Magazine

Summer 2014

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vessels, but also those that carry the fuel in bulk as cargo. Among the many Jensen projects are the first LNG bunker barges in the U.S. for LNG America LLC; an LNG-powered ship assist and tanker escort tugboat and bulk LNG tankers, which may one day be built and operated by our petroleum transportation group. We are also developing expertise in land-side infrastructure to support the bunkering needs of LNG-fueled vessels, as well as sourcing LNG and providing an efficient and reliable delivery system to help customers get the most out of this clean, affordable energy. Later this summer, for example, the Crowley energy group will be the first to begin supplying industrial customers in Puerto Rico with containerized (ISO tank) LNG for cleaner, more cost effective, power generation. While our initial contract is with Coca-Cola Puerto Rico Bottlers (CC1 Companies, LLC), there continues to be great interest in our ability to provide regular, uninterrupted LNG supply in Puerto Rico, the Caribbean and Central America. We also believe this LNG distribution model is applicable in Alaska where we operate a statewide network of petroleum distribution and sales. We will soon be using LNG to fuel our own new ships, which are being built for the U.S. – Puerto Rico trade. These two ConRo (container and roll-on / roll-off) ships are scheduled for delivery in 2017 and will be among the first of their kind in the world. They will net a 100-percent reduction in sulphur oxide (SOx) and particulate matter (PM), a 92-percent reduction in nitrogen oxide (NOx) and have the ability to significantly reduce carbon dioxide (CO2), a contributor to greenhouse gas emissions. Rounding out our efforts, our solutions group will continue to utilize their vast experience in oil field development in remote areas as a catalyst to provide large scale project management services to energy companies with natural gas exploration and extraction activities. This organization can also manage projects associated with the construction of liquefaction and gasification plants needed to transform gas to a liquid for transportation and then back to gas for consumer and industrial use, and can handle more complex logistics challenges on LNG projects at home and abroad. As you can see, we are very bullish on LNG as an energy source, particularly its application across the maritime sector. While infrastructure still needs to be built to truly achieve widespread adoption, we have no doubt that it's coming. Years from now, we believe natural gas will be as available as diesel is today, and we hope to be a major player in its assimilation. Sincerely, Tom Crowley The American Petroleum Institute reports that the U.S. has a total available future supply of 2,688 trillion cubic feet of clean-burning, natural gas - enough at current consumption levels, for about 105 years. Interestingly, much of this supply is newly discovered and canvasses the country, from the Arctic to the Mountain West, to shale gas formations along the Appalachian Basin, to offshore and the deep waters of the Gulf of Mexico. The abundance of this fuel source combined with tougher emissions standards, on both land and sea, is creating a plethora of business opportunities for Crowley. As a multi- disciplined company, we are leveraging our expertise to provide innovative energy solutions for our customers, to help them compete in times of shifting energy practices. For instance, Jensen, our naval architecture and marine engineering group, is designing and providing construction management services for not only various LNG-powered From Tom Crowley Jr. Chairman and CEO Crowley Maritime innovative energy Solutions

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