Conrad Industries 2013 Profit Slip Ameliorated by New Business

MarineLink.com
Monday, March 31, 2014
Image courtesy of Conrad Industries

Morgan City, Louisiana, shipbuilder and ship repairer Conrad Industries, has announced its fourth quarter and twelve months 2013 financial result, adding that it has acquired new business during the first quarter of 2014 totalling $67.3 million.

Q4 2013
For the quarter ended December 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.

 Year 2013
The Company had net income of $28.6 million and earnings per diluted share of $4.80 for the twelve months ended December 31, 2013 compared to net income of $20.8 million and earnings per diluted share of $3.46 for the twelve months ended December 31, 2012.

New business

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 $155.0 million, compared to $152.9 million at December 31, 2013, $125.5 million at March 31, 2013, and $120.7 million at December 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.)

The Company’s financial reports are available at www.otcmarkets.com

 

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Volvo Penta Names Brown Commercial Marine Sales Director

Dave Brown has joined Volvo Penta of the Americas as director of commercial marine sales.   In this new position, Brown will provide strategic and administrative

Romica Manufacturer Secures DNV GL Approval

U.K. winch maker Romica said it is to “redouble its exports drive” after its Romania-based manufacturing partner successfully acquired accreditation with DNV GL.

Contracts

Baltic Index Falls on Weak Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday due to weaker rates across all segments, except handysizes.

As Market Sours, LPG Tankers Anchor off Singapore

Record U.S. LPG exports to Asia flip market into a glut. Last year, liquefied petroleum gas (LPG) supplied to Asia was being snapped up by petrochemical makers.

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

Shipbuilding

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

New Ferry MV Woods Hole Delivered

The newly built ferry M/V Woods Hole has been delivered to serve Woods Hole, Martha’s Vineyard and Nantucket.   Built by Conrad Industries of Morgan City, La.

Cargo Barge Launched for Alaska Marine Lines

Alaska Marine Lines celebrated the launch of its newest barge, Skagway Provider, at a ceremony July 7 at Gunderson Marine in Portland, Ore. where the vessel was constructed.

Workboats

First VectRA 3000 Tug Delivered

Sanmar’s first VSP (Voith Schneider Propeller) tug, of the new VectRA 3000 series, named Arie A has been constructed for Italian operator Tripmare Spa of Trieste.

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

Damen ASD Tug for Mexico

Damen congratulates Reylaver on the safe arrival and naming ceremony of the new ASD Tug 2411 Jesus. In order to reach her owners, the vessel undertook, on her own keel,

Dredging

Boskalis Awarded Aberdeen Offshore Wind Farm Contract

Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Great Lakes Dredging Awards Announced

Great Lakes Dredge & Dock Corporation announced that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two

Fire-fighting ASD Tugs Sail to Argentina

At the end of June, two Damen ASD Tugs 2810 set sail from Damen Shipyards Galati in Romania to Puerto General de San Martin (Argentina) for towing, mooring, and

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1132 sec (9 req/sec)