Quality Builder News

A new yard hall provides the specialized builder and conversion yard of fishing vessels the chance to expand operations and perform high quality refits in optimal conditions. On the hall the new Damen Maaskant logo is displayed in giant lettering.“In these troubling times for North Sea fishery, I do hope that this new hall will enable Damen Maaskant to improve on providing excellent services to their clients and that it may open the way to attracting new clients in other maritime markets,” Damen Shipyards Group chairman Kommer Damen said in his speech at the hall opening on September 3.

Senesco Marine Steps Out Into the Broader Commercial Build and Repair Markets. The largest mid-tier yard in the U.S. Northeast touts deep experience and high standards. Suddenly, operators have another viable choice for newbuild and repair work. After being off the radar for perhaps as many as 12 years – during which the yard was itself quite busy primarily servicing internal Reinauer requirements – Rhode Island-based Senesco Marine LLC has moved more aggressively into the outside commercial markets. Although perhaps representing a somewhat new entity to some clients, Senesco is anything but new on the scene. An accomplished builder of modern tonnage, it is more than capable of taking on any mid-tier shipyard newbuild or repair challenge.

Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced the delivery of an aluminum passenger vessel for Puerto Rico Maritime Transportation Authority (PRMTA). The Cayo Blanco can carry 600 passengers on two decks. She measures 160 ft x 32 ft x 13 ft and the vessel route is from Fajardo to Vieques and Culebra in Puerto Rico. She is powered by four MTU 12V-4000 M60 main engines with MGX 6848 Twin Disc gears. The generators are John Deere and there is a 200 hp tunnel bow thruster. The delivery crew traveled from Morgan City to San Juan in five days and the vessel performed excellently.

Star Bulk Carriers Corp. (NASDAQ: SBLK) announced that it has signed a contract with ship builder Hanjin to build a Capesize vessel of 180,000 deadweight tons, at a price of $53.5m with expected delivery in September 2011. The company has also entered into a ten year time charter agreement for the vessel with STX Panocean at a gross daily hire of $24,750. Star Bulk has also received offers for debt financing of up to 70% of the vessel's price at favorable financing cost/terms and expects to complete the financing within the second quarter of 2010. The company has not yet decided the ratio of Company cash to senior debt that it will utilize in this acquisition.

The luxury yachting industry is set to enter a new era of quality and cost efficiency in the unlikeliest of places. U.S. based Tricon Marine, a high quality builder of FRP/Composite luxury yachts up to 180 feet long, recently broke ground on China’s first and only North American-owned and operated shipyard. The new facility will allow Tricon to offer its discriminating clientele of OEM manufacturers and custom yacht end users the highest quality design and construction at unprecedented value. Located just outside the city of in ’s province, Tricon’s 55,000 sq. meter state-of-the-art facility is designed to operate at the highest American and European standards of craftsmanship, cleanliness and security.

Conrad Industries, Inc. compared to net income of $951,000 and earnings per diluted share of $0.13 for the three months ended March 31, 2001. Revenues for the three months ended March 31, 2002 were $10.6 million compared to $11.9 million for the three months ended March 31, 2001. The company's backlog was $11.3 million at March 31, 2002 as compared to $10.4 million at December 31, 2001 and $13.2 million at March 31, 2001. Gross profit was $2.1 million (19.8% of revenue) for the three months ended March 31, 2002 as compared to gross profit of $2.8 million (23.3% of revenue) for the three months ended March 31, 2001. Net cash used by operating activities was $2.5 million for the three months ended March 31…

Morgan City, Louisiana Conrad Industries, Inc. announced that Offshore Marine Contractors, Inc. Conrad Shipyards. the namesake, christened the 175’ Class liftboat, “Lacie Bourg”. service and look forward to getting the next five vessels. aluminum products for both the commercial and government markets. shipyards located in southern Louisiana and Texas.

Well-known in the shipbuilding industry as a quality builder of various vessels and as a specialist in ship and barge repair, conversions and barge flaring, Lockport, La.-based Bollinger Shipyards has made a name for itself as a major builder of barges used on inland waterways and ocean-going uses. Stemming from the shipyard's growth are five contracts for 17 specialized large barges ranging in sizes from 240 to 365 ft. Some were recently delivered, while others will be sent off before year-end 2000. According to Lynn Falgout, vice-president and general manager of Bollinger Marine Fabricators, "Until April 1997, we had had a limited barge program in eight shipyards.

Well-known in the shipbuilding industry as a quality builder of various vessels and as a specialist in ship and barge repair, conversions and barge flaring, Lockport, La.-based Bollinger Shipyards has made a name for itself as a major builder of barges used on inland waterways and ocean-going uses. Stemming from the shipyard's growth are five contracts for 17 specialized large barges ranging in sizes from 240 to 365 ft. (73.1 x 111.2 m) Some were recently delivered, while others will be sent off before year-end 2000. According to Lynn Falgout, vice president and general manager of Bollinger Marine Fabricators, "Until April 1997, we had had a limited barge program in eight shipyards.

MetalCraft Marine Inc., of Kingston, Ontario, is nearing completion of its second Hydrographic Survey Craft for the Canadian Government's Department of Fisheries and Oceans (DFO), Canadian Hydrographic Service. The 30 x 10.3 ft. vessel will carry three transducers, the largest being a state of the art 332 mm Multi-beam Transducer by Kongsberg-Simrad, Model EM-3000. The total Multi-beam system is worth approximately three times the value of the vessel, which was sold for $129,000. The Canadian Hydrographic Service, Central and Arctic Regions is responsible for updating and validating Canadian navigational charts for all inland and Arctic waters, including the Great Lakes and the St. Lawrence Seaway.