Conrad Terminates Negotiations with Swiftships

Thursday, October 10, 2002
Conrad Industries, Inc. announced the award of a new construction program for the Corps of Engineers totaling $22.2 million which brings the total current backlog to approximately $33.2 million, excluding an option for one towboat valued at $5.6 million. The contract award calls for the construction of three 124-ft., 3000 hp, ABS Class towboats valued at $16.6 million with an option for one additional towboat valued at $5.6 million. When delivered, these vessels will perform scheduled and emergency maintenance on the upper Mississippi and Ohio Rivers. Kenneth G. (“Jerry”) Myers, Jr., Conrad’s President and CEO commented, "We’re excited about the opportunity to work again for the Corps of Engineers. Our Orange Shipbuilding operation, where the work will be performed, has a rich history of successfully working for the Corps with eight vessels delivered since 1995.” Additionally, Conrad announced today that it has terminated negotiations under the non-binding letter of intent executed August 12, 2002 regarding the purchase of substantially all of the assets of Swiftships Shipbuilders, LLC and Swiftships Technologies, LLC.

Maritime Today


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

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

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

 
 
Maritime Contracts Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.1502 sec (7 req/sec)