US Shipbuilder Holds Course in 2012

MarineLink.com
Thursday, March 28, 2013

Conrad Industries announces its 2012 financial results and also the addition of new business during Q1 2013.

For the quarter ended December 31, 2012, Conrad had net income of $8.0 million and earnings per diluted share of $1.33 compared to net income of $6.8 million and earnings per diluted share of $1.09 during the fourth quarter of 2011.

The Company had net income of $20.8 million and earnings per diluted share of $3.46 for the twelve months ended December 31, 2012 compared to net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended December 31, 2011. The diluted shares for the quarter and twelve months ended December 31, 2012 are 6.0 million, and 6.2 million and 6.4 million for the quarter and twelve months ended December 31, 2011, respectively.

New business added during the first quarter of 2013 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $122.5 million, compared to $120.7 million at December 31, 2012, $70.8 million at March 31, 2012, and $47.1 million at December 31, 2011.

New contracts added during the first quarter of 2013 include two 297'6"x 54'x 12' 30,000 bbl. tank barges, two 245'x 48'x 12'LPG tank barges, a 300'x 100x 20' ocean deck barge, and a 160'x 72'x 10' deck barge.

During the first quarter of 2013, the company also sold three 297'6"x 54'x 12' 30,000 bbl. tank barges, and four tow boats which were stock vessels in progress at December 31, 2012.

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.
 

 


 

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

People & Company News

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Finance

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1308 sec (8 req/sec)