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EMISSION REDUCTIONS
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August 24, 2010

Titan opens salvage base in Australia

Crowley subsidiary Titan Salvage has a new salvage base and depot in Australia. The facility located in Cairns, Queensland is strategically located to respond to marine and environmental disasters threatening the Great Barrier Reef and other marine casualties throughout the Australasia and South West Pacific regions.

As part of the expansion, Titan has exclusively partnered with Perrott Salvage of Cairns, a locally based salvage operator, who will serve as Titan's regional representative.

Locally based resources, including a stockpile of specialist salvage equipment in Cairns, along with strategic partnerships with key Australia-based subcontractors and Titan's established worldwide network of salvage resources will help expand the company's global reach.

"We are very excited about this new partnership and look forward to offering TITAN's world class salvage and wreck removal support to this region of the world," said Dan Schwall, managing director, TItan.

The new Australian company will operate under the name Titan Maritime (Australia) Pty Ltd.

Titan already operates a fully staffed and equipped salvage facility in Singapore.


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