Conrad Industries Withstands Rising Waters

Wednesday, June 15, 2011

Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) provided an update today on the impact of the rising waters of the Mississippi River and the Atchafalaya River on its operations.

Johnny Conrad, President and CEO stated, “On May 11, 2011 we announced the potential adverse impact on our business of the rising water levels along the Mississippi and Atchafalaya Rivers. We are happy to report that the only adverse impact to date has been the temporary suspension of operations at our Morgan City shipyard which is located on the Atchafalaya River outside the protection of the levee system.

"We relocated all of our production and support personnel and many of our projects to our other shipyards and continued operations at a minimally reduced level. The river crested on May 30, 2011 and has begun to slowly recede. At this time we are back to limited operations at our Morgan City shipyard and we expect to be fully operational at this yard on or before the end of the month. All of our other yards have remained fully operational.
In order to minimize the impact of the imminent flooding and decrease the amount of down time, we constructed our own levee system to protect our Morgan City shipyard. This resulted in no property and equipment damage and also will allow us to return to full operation with minimal clean-up, months sooner than otherwise.

"We believe because of the efforts of our people to plan for protection and move projects to other facilities, there will be only a minimal impact on our profitability and there will not be any material adverse effect on our Company."

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

RDS Wins Engineering and Design Contract for Sea Lion

Rig design and engineering specialist RDS has been awarded a front-end engineering design (FEED) contract by AMEC for Premier Oil’s Sea Lion development in the North Falklands Basin.

Rickmers-Linie Appoints Interliner Agencies

Hamburg based Rickmers-Linie has appointed Interliner Agencies as its new agent in South Central Europe. The agency contract covers Slovenia, Austria, Czech Republic,

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

Shipbuilding

Two MCS Exhaust Gas Boilers to Tersan Shipyard

Parat Halvorsen AS has been awarded new boiler plant contracts for two freezer trawlers to be built at Tersan Shipyard located in Telova, Turkey. The boiler plants are for Tersan¹s newbuildings No.

ClassNK's Noboru Ueda Attends KOTC Delivery Ceremony

Mr. Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

RIMPAC Exercise Puts LCS Through Paces

It was the middle of May, and the littoral combat ship Independence was operating out of San Diego, testing components of the mine warfare mission package. The mission is one that,

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1401 sec (7 req/sec)