Conrad Announces Contract Modification

Monday, April 10, 2006
Conrad Industries, Inc. entered into a Memorandum of Understanding with the U.S. Army Engineer District, Philadelphia for the issuance of a modification for $4.3 million to increase the contract price of the contract entered into in September 2002 to design, construct, test and deliver four towboats. In addition, the agreement provides for time extensions to complete certain aspects of the contract. This agreement was reached to fully resolve and settle the claim filed by Conrad’s subsidiary, Orange Shipbuilding, in July 2005. The Corps has agreed to pay the settlement amount at the earliest possible date as funds become available. Conrad expects to receive the funds within the second quarter of 2006, although no assurances can be given.

Finance

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.0753 sec (13 req/sec)