MORGAN CITY, La., April 3 /PRNewswire-FirstCall/ -- Conrad Industries, Inc. (OTC Pink Sheets: CNRD) announced today the signing of contracts during the first quarter of 2007 for the construction of six vessels and the recent delivery of various vessels.
Blessey Marine Services, Inc. of Harahan, Louisiana has executed contracts for two 8,400 bbl. double skin stainless steel tank barges. These 217'x42'x10' barges will be used for the transportation of subchapter O and D, grade A and lower flammable or combustible cargos. This order marks Blessey Marine Services' first venture into the stainless steel barge market.
Arkhola Sand & Gravel, a Division of APAC-Arkansas of Fort Smith, Arkansas has signed a contract for the construction of one 200'x60'x10' deck barge.
In addition, Gulfstream Rental Tools, Inc. of Morgan City has signed contracts for three 120'x30'x7' shale barges.
Johnny Conrad, President and CEO stated, "Blessey Marine and Arkohla Sand & Gravel are first time new construction customers. Conrad is pleased that these companies have chosen Conrad for their projects. The projects awarded to Conrad by these companies are similar to others we've delivered in the past. We are also pleased that Gulfstream Rental Tools, a repeat customer, has chosen Conrad to build three of our standard shale barges for their fleet."
Conrad further commented, "We continue to execute our strategy of focusing on core projects that we have experience constructing and maintaining our backlog at an optimum level for our current facilities. With these additions, our current backlog is approximately $83 million. Demand for new construction projects remains very strong and although we have some capacity to start construction of new projects starting later this year we are primarily signing contracts with start dates in 2008."
Conrad also announced the recent delivery of the first of two double skin tank barges for Foss Maritime Company that will be equipped as bunkering barges for their west coast operations. The 245'x58'x18'6" double skin tank barge has a capacity of 26,000 bbls. of fuel. The barge is ABS Classed and equipped with a complete cargo loading and off-loading system. This system includes two diesel-driven cargo pumps for fuel oil, distribution piping, a diesel generator set, and a vapor control system including vapor collection system, closed cargo gauging system, and a tank liquid overfill protection system.
Additionally, Conrad delivered the third of four inland river push boats for the Corps of Engineers. The 3,200 horsepower 124'x34'x10'3" push boat is for Corps' St Paul District. This boat is ABS Classed and has accommodations for 10 persons. The primary mission of the towboat will be to support the seasonal mobilization of the Thompson Dredging Fleet on the Upper Mississippi River. The vessel will also provide support to year round lock maintenance efforts.
The 16th ST Tug for the U.S. Army was delivered in March. The 60' Small Tug "ST916" was delivered to the U.S. Army TACOM Watercraft Group. The vessel will operate out of Mare Island, California.
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana designs, builds and overhauls tugboats, ferries, liftboats, 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 four shipyards located in southern Louisiana and Texas.
For Information Contact:
Cecil Hernandez (985) 702-0195
