Conrad Shipyard delivers first barge from new Amelia facility
Conrad Shipyard recently delivered the Julius, a 300-foot American Bureau of Shipping-classed ocean deck barge, to Gray Offshore.
MORGAN CITY — Conrad Shipyard delivered its first project from its newest facility, Deepwater South in Amelia this week.
The 300-foot American Bureau of Shipping-classed ocean deck barge, Julius, was delivered to Gray Offshore, according to Dan Conrad, senior vice president.
“To be able to deliver barges of this size and quality, on time and on budget, from our newest facility is evident of diversity and commitment to our valued customers such as John Gray,” Conrad said.
John Gray, president of Gray Offshore and its affiliated Gray Barge Companies, said two 260-foot American Bureau of Shipping barges in its fleet also were constructed at Conrad.
“This addition to our fleet … offers our customers optimal solutions for their heavy lift needs,” Gray said.
Adding the Julius to the fleet “gives our customers more options and is the right fit to satisfy the market’s need to move increasingly heavier over-dimensional and project cargos both internationally and domestically” Gray said.
The Julius is U.S. flagged and Jones Act compliant.
Conrad Industries reports income up
MORGAN CITY – Conrad Industries, Inc. has announced its fourth quarter and 12 months 2013 results and the addition of new business during the first quarter of 2014 totaling $67.3 million.
For the quarter ended Dec. 31, 2013, Conrad had net income of $10.1 million and earnings per diluted share of $1.70 compared to net income of $8.0 million and earnings per diluted share of $1.33 during the fourth quarter of 2012. The company had net income of $28.6 million and earnings per diluted share of $4.80 for the 12 months ended Dec. 31, 2013, compared to net income of $20.8 million and earnings per diluted share of $3.46 for the 12 months ended Dec. 31, 2012.
The company’s financial reports are available at www.otcmarkets.com.
New business added during the first quarter of 2014 includes the signing of new contracts and sales of stock barges, which brings estimated current backlog to approximately $155 million, compared to $152.9 million at Dec. 31, 2013, $125.5 million at March 31, 2013, and $120.7 million at Dec. 31, 2012.
New contracts added during the first quarter of 2014 include five 266’x 54’x 13’LPG tank barges, two 70’x 42’x 7’ anchor barges, a 116’ ATB Tug, four 297’6”x 54’x 12’ 30,000 bbl. tank barges, and a contract for the conversion of a MPSV (Multi-Purpose Supply Vessel.)
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, designs, builds and overhauls tugboats, ferries, lift boats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas.