Waterman Steamship Corporation

Waterman Steamship Corporation is an American deep-sea ocean carrier founded in Mobile, Alabama, in 1919. The company was established by John Barnett Waterman, Henry Crawford Slaton, T.M. Stevens, W.D. Bellingrath, and C.W. Hempstead after the group left the British-owned Elder Dempster Steamship Company. Its first vessel was the Eastern Sun, which Waterman leased from the United States Shipping Board for service connecting American ports with Liverpool and Manchester. This one-ship beginning placed the company in the developing post-World War I American merchant-shipping industry and gave it an early focus on international liner operations. Over the following decades, Waterman expanded from a small Mobile-based carrier into a diversified maritime enterprise. Its business developed around deep-sea ocean transportation, scheduled or liner services, and time-charter contracts. The company’s activities were associated principally with the movement of cargo rather than with a consumer-facing passenger brand, although historical descriptions of the business also refer to passenger routes. Waterman’s growth included the accumulation of a substantial fleet, ownership and operation of shipbuilding and repair facilities, and control of three other shipping companies. By the middle of the twentieth century, it had become a major employer and an important corporate presence in Mobile. A significant ownership change occurred in 1955, when McLean Industries, Inc. acquired Waterman’s stock from its existing shareholders. At that point, the company had grown to a fleet of approximately 125 ships and employed thousands of people. Its industrial footprint extended beyond vessel operation into ship construction, maintenance, and repair. Waterman also maintained a long commercial relationship with Exxon Corporation, which supplied the company’s fleet with gas and bunker fuel oil on an exclusive basis for approximately four decades. That relationship illustrates the scale and operational complexity of Waterman’s fleet during its established-carrier period. Waterman later became part of International Shipholding Corporation’s corporate structure. In 2017, SEACOR Holdings acquired International Shipholding Corporation, bringing Waterman into the SEACOR group. This transaction connected the historic carrier with a larger marine transportation and logistics organization. In 2019, the sister company Central Gulf Lines adopted the Waterman name, extending the use of the Waterman identity within the group’s operating business. Consequently, the modern Waterman name represents both a historic Mobile shipping company and a continuing maritime operating identity under SEACOR ownership, rather than simply an independent early-twentieth-century carrier. The company’s former headquarters building on Saint Joseph Street remains a notable element of downtown Mobile’s skyline. Opened in 1950, the building became known for lobby murals and a large rotating globe associated with Waterman’s maritime identity. The property was sold in 2017, and the globe was subsequently displayed at the Mitchell Center at the University of South Alabama. Waterman’s legacy therefore encompasses active or continuing ocean-carrier operations as well as a substantial architectural and civic presence in Mobile. Its historical importance rests on the combination of international shipping, fleet expansion, maritime industrial facilities, corporate acquisitions, and long-term ties to the Gulf Coast port city.

Waterman Steamship Corporation was formed in 1919 in Mobile, Alabama, by John Barnett Waterman, Henry Crawford Slaton, T.M. Stevens, W.D. Bellingrath, and C.W. Hempstead. The founders had previously been associated with the British-owned Elder Dempster Steamship Company. Their new enterprise began with a single vessel, the Eastern Sun, leased from the United States Shipping Board. The ship served routes to Liverpool and Manchester, giving the company an early role in transatlantic liner shipping. Waterman expanded during the first half of the twentieth century as American merchant shipping developed around Gulf Coast ports and international trade. The business grew from vessel operation into a broader maritime enterprise involving deep-sea liner services, time-charter arrangements, shipbuilding, and vessel repair. It also owned or controlled three other shipping companies. By 1955, the company had built a fleet of approximately 125 ships, operated its own shipbuilding and repair yards, and employed thousands of workers. Its scale made it one of Mobile’s most prominent industrial and commercial institutions. In 1955, McLean Industries, Inc. acquired Waterman’s stock from its shareholders. The change placed the carrier within a larger corporate structure while preserving its established identity and maritime activities. Waterman also had a long-running relationship with Exxon Corporation, which exclusively supplied gas and bunker fuel oil for the company’s fleet for roughly forty years. The fuel relationship reflected the continuing importance of reliable energy supply to Waterman’s ocean-going operations. Waterman subsequently became part of International Shipholding Corporation. In 2017, SEACOR Holdings acquired International Shipholding, thereby acquiring Waterman within the transaction. This marked the company’s integration into the SEACOR maritime group. In 2019, Central Gulf Lines, a sister company, adopted the Waterman name. The naming change continued the Waterman identity in an operating context, even as the company’s ownership and corporate structure had changed substantially since its founding. Waterman’s physical and cultural legacy is especially visible in Mobile. Its former headquarters on Saint Joseph Street opened in 1950 and became known for extensive lobby murals and a large rotating globe. The building was sold in 2017. The globe was later displayed at the Mitchell Center at the University of South Alabama. Waterman’s history thus combines international shipping operations with a durable architectural presence in the city where the company was established.

• 2019

  Central Gulf Lines takes the Waterman name

  [1]Waterman Steamship Corporationen.wikipedia.org

  Sister company Central Gulf Lines adopted the Waterman name within the SEACOR-controlled maritime group.

• 2017

  SEACOR acquires the parent company

  [1]Waterman Steamship Corporationen.wikipedia.org

  SEACOR Holdings acquired International Shipholding Corporation, Waterman’s parent company.

• 1955

  Acquisition by McLean Industries

  [1]Waterman Steamship Corporationen.wikipedia.org

  McLean Industries acquired Waterman’s stock from its shareholders.

• 1950

  Mobile headquarters opens

  [1]Waterman Steamship Corporationen.wikipedia.org

  The former Waterman headquarters building on Saint Joseph Street opened in downtown Mobile and became known for its maritime-themed interiors.

• 1919

  Company founded in Mobile

  [1]Waterman Steamship Corporationen.wikipedia.org

  John Barnett Waterman and four associates founded Waterman Steamship Corporation in Mobile, Alabama, after leaving Elder Dempster Steamship Company.

• 1919

  Eastern Sun begins the company’s first service

  [1]Waterman Steamship Corporationen.wikipedia.org

  Waterman leased the Eastern Sun from the United States Shipping Board for service to Liverpool and Manchester.

A Gulf Coast-based deep-sea carrier serving international maritime commerce through liner operations, time charters, and related marine assets.

• Ocean freight · 1919

  Liner services

  Waterman’s historic core business included deep-sea liner services linking American ports with overseas destinations. The company began with service to Liverpool and Manchester and later developed a much larger ocean-going fleet. Liner operations provided regular maritime transportation for cargo and formed the foundation of the company’s identity as an international carrier.

• Chartered maritime transportation

  Time-charter contracts

  Time charters allow vessels to be made available to customers or affiliated operators for an agreed period rather than for a single voyage. Waterman is described as specializing in time-charter contracts, placing the company within the commercial shipping market for flexible vessel capacity and long-duration maritime transportation arrangements.

• Marine industrial services

  Shipbuilding and repair facilities

  During its expansion, Waterman owned and operated shipbuilding and repair yards. These facilities supported the company’s own fleet and broadened its role beyond transportation into vessel construction, maintenance, and repair. The yards were part of the industrial infrastructure that helped Waterman become a major maritime employer.

• 2019

  Transfer of the Waterman name to Central Gulf LinesStrategy

  Background

  Central Gulf Lines operated as a sister company within the same corporate group.

  Action taken

  Central Gulf Lines adopted the Waterman name.

  Aftermath

  The historic Waterman identity continued to be used within the group’s maritime operations.

  Source

• 2017

  Integration into SEACOR HoldingsM&A

  Background

  Waterman was part of International Shipholding Corporation before that parent company was acquired.

  Action taken

  SEACOR Holdings acquired International Shipholding Corporation, bringing Waterman into the SEACOR group.

  Aftermath

  Waterman became part of SEACOR’s broader marine transportation portfolio.

  Source

• 1955

  Sale of Waterman stock to McLean IndustriesM&A

  Background

  After growing from a one-ship operation into a carrier with approximately 125 ships and related industrial facilities, Waterman entered a new ownership phase.

  Action taken

  McLean Industries, Inc. purchased the company’s stock from its shareholders.

  Aftermath

  Waterman continued as part of a larger corporate structure.

  Source

1. 1Waterman Steamship Corporationen.wikipedia.org