Conrad New Shipbuilding Business
Conrad Industries, Inc. announced the signing of new contracts, bringing current backlog to approximately $86m compared $41m at June 30, 2010, $38m at December 31, 2009 and $56.1m at September 30, 2009. New contracts include three 150-ft x 50-ft x 8-ft heavy load capacity equipment hauling barges for the U.S. Army Corps of Engineers. In addition, the North Carolina Department of Transportation awarded a contract to Conrad for the construction of a 220-ft passenger and vehicle ferry for servicing the Pamlico Sound routes between Cedar Island and Ocracoke, and Ocracoke and Swan Quarter. The vessel is capable of transporting 300 passengers and 50 vehicles, and is similar to the vessel currently under construction at our shipyard in Orange, Texas.
Conrad Industries Ferry Contract Award
Conrad Industries, Inc. (Pink Sheets: CNRD) announced that it has been awarded a contract for the construction of a passenger/vehicle ferry with a value of $13m, which brings the current backlog to approximately $56.8m compared to $40.6m at June 30, 2009, $56.3m at December 31, 2008 and $74.8m at September 30, 2008. The North Carolina Department of Transportation awarded the contract to Conrad for the construction of a 220-ft passenger and vehicle ferry for service between the Cedar Island, NC and the Ocracoke Island, NC terminals. The vessel is capable of transporting 300 passengers and 50 vehicles, and will be built at our shipyard in Orange, Texas.
Planned Renovations Key to North Carolina
The State of North Carolina has the nation's second largest ferry system. Only the State of Washington's system is larger. Its 23 vessels annually carry 2.5 million passengers and one million vehicles. The ferry system is operated by the Ferry Division of the North Carolina Department of Transportation, which employs approximately 380 permanent employees. This number increase to approximately 450 during the summer season. There are four ferry routes on three bodies of water connecting the mainland with the offshore islands of Ocracoke, Hatteras and Notts Islands. Three routes cross the Cape Fear, Neuse and Pamlico Rivers. The Ferry Division also has a dredge, tugs, fuel barge and its own shipyard located in Manns Harbor.
