Crowley’s Position on the Puerto Rico Debt Crisis

2015-06-30

Much has been reported in the news over the past several days on the Puerto Rico debt crisis, and we would like you to know that we stand with you our customers and the people of Puerto Rico. Crowley has been serving the Puerto Rico market for 60 years and is committed for the long term to the people there. Despite the government’s difficulties we are proceeding full speed ahead with the construction of two new LNG powered container – Ro/Ro (ConRo) ships and a new pier/terminal in San Juan. In addition, we will be purchasing three new container cranes for use at the new terminal facilities. We are spending hundreds of millions of dollars as further evidence of our commitment to the market and to the Jones Act, which is making these investments possible. Where the future health of the Puerto Rico economy is concerned we believe we are part of the solution. Our investment and continued service enhancements with our liner and logistics offerings will create opportunity for people there, both in terms of jobs – Crowley employs more than 300people in Puerto Rico today – and overall economic impact. It is important to remember that the needs of the Puerto Rico people for things like groceries, medicines and personal care products, furniture and fixtures, building materials, vehicles, department store merchandise, etc., are going to remain despite the government’s financial difficulties. And Crowley will be there now and in the future to serve you and ensure these goods make it to market.