Conrad gets contract to build four tugboats

Conrad Shipyard (OTC Pink Sheets: CNRD.PK) of Morgan City has signed a contract to build four Damen Stan 3711 tugs for Young Brothers Limited of Hawaii. The announcement was made by Conrad President and CEO Johnny Conrad:
“This new contract is a tribute to the extraordinary skills of our shipbuilding team as well as validation of our corporate commitment to quality, craftsmanship, integrity and service,” he said.
The four new twin-screw tugs are 123 feet in length with a 36.5-foot beam and are powered by G.E. 8L250 engines rated at 6,000 horsepower.
Designed for high stability and maneuverability, the tug has a maximum bollard pull of 80 metric tons and a top speed of 12.5 knots.
Young Brothers Limited, a wholly owned subsidiary of Foss Maritime and headquartered in Honolulu, is Hawaii’s largest inter-island cargo service provider. The company, founded in 1900, provides cargo services, including freight handling and transportation, harbor assist, and tug and barge movement throughout the Hawaiian Islands. Young Brothers President and COO Glenn Hong commented on the company’s investment:
“We are investing to serve the Hawaiian Islands for decades into the future. These new tugs are a perfect match for our higher capacity barges and will improve reliability, efficiency and on-time service,” he said.

Conrad forms
LNG unit
Conrad Shipyard also has announced formation of a new business unit focused on LNG projects. The new business unit will be led by Conrad Vice President Brett Wolbrink.
Conrad President and CEO Johnny Conrad commented on the selection of Wolbrink to lead the LNG unit:
“Brett has served Conrad Shipyard in a variety of management positions, and he has in-depth knowledge of our operation from the ground up,” he said. “We believe the continued development of the LNG fuel market to be of critical importance. Not only will it provide positive change with respect to environmental emissions, but will ultimately provide significant long term positive economic results for Owners and Operators. We want Conrad to be an active participant and a leader in the development of this market.”
Conrad Shipyard is the builder of the first LNG bunker barge in North America and anticipates a delivery date of early 2017. Conrad continues to actively pursue other LNG opportunities, including developing designs for additional transport barges, dual-fuel powered towboats, and other research and development projects. Wolbrink commented on his new assignment:
“In Conrad’s 68 year history, we have had the opportunity to not only witness, but actively participate in, many historical and technologically innovative transformations in the marine industry. We see the LNG marine fuel market as the next logical progression in this history. Conrad has the experience, the workforce, the facilities, and the leadership to not only take advantage of these opportunities, but to be actively engaged in fostering the continued development of the infrastructure necessary to expand this markets capabilities. Our team is excited and looking forward to the opportunities ahead of us.”