Crowley reports that it has has successfully managed the acquisition of the M/V Honor. This is Crowley’s first vessel acquisition under the multi-year, $638 million Vessel Acquisition Management (VAM) contract it was awarded last year by the U.S. Maritime Administration (MARAD).
Under that contract, Crowley is assisting MARAD in the enhancement of the Ready Reserve Force (RRF), helping reduce the overall age of the fleet and increase ship reliability.
Vehicle carriers are part of the multi year...