Conrad Industries, Inc. won contracts totaling $13.5 million to build two 300 x 60 x 24-ft. 35,000 Barrel Double Hulled Oil Tank Barges for Penn Maritime, Inc., and to repair, renovate and perform hull modifications to a
riverboat casino to be operated in Mississippi.
Johnny Conrad, Conrad’s President and CEO said, "We are excited to announce the signing of these
contracts with these new customers and the fact that these jobs further create the opportunity to utilize our
excess capacity at our Deepwater facility which helps us capitalize on our investment there. Penn Maritime
currently owns and operates 20 barges and 14 tugboats making Penn one of the largest U.S. coastal
transporters of residual oil and heated asphalt products. The barges are suitable for carrying asphalt and all
Subchapter D cargoes. The casino is a four-level paddlewheel style riverboat casino that will be located in
Hancock County, Mississippi. With these additions, our current backlog is approximately $54 million.”