2001 Maritime

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July 6, 2001

Crowley in Brazil deepwater logistics venture
Crowley Marine Services and Brazil's Triunfo Operadora Portuaria Ltda intend to form a joint venture to operate a deepwater logistics base in the State of Rio de Janeiro, Brazil.

GAIA Comercial Exterior will participate as Crowley's Brazilian representative for energy logistics services. The partners announced the joint venture during a signing ceremony yesterday at Rio's prestigious Naval Club.

The deepwater logistics base will be located at Triunfo's marine terminal on Guanabara Bay and will manage the complex logistics and transportation required to support deepwater exploration and production in the Campos and Santos basins of Brazil.

The base will feature over 300 meters of dedicated dock space with 7.5 meters draft, as well asopen and covered warehousing, cranes, and material handling equipment. T

he energy base will be bonded for temporary storage of imported materials, and is expected to be operational by September 2001.

The Crowley-Triunfo joint venture will provide storage and inventory control of oilfield equipment and coordination of marine transportation between the base and offshore drilling and production areas in the Campos and Santos Basins, as well as coordination of inland transportation to the base. The base will be staffed primarily by dedicated Brazilian employees.

All activities performed will be in accordance with American Petroleum Institute (API) standards and utilizing Crowley's ISO-9002 compliant procedures. The joint venture also intends to provide material management services for third party service companies providing materials and services to offshore operators.