Shipyard in Focus: Conrad Shipyard
Parker Conrad, a shipbuilding pioneer and a legend along the Gulf of Mexico coast and beyond, founded Conrad Shipyard in 1948. The company, headquartered in Morgan City, Louisiana, is now a public company with new generations of Conrad’s at the helm. “I grew up in the shipyard working side by side with my father,” said Johnny Conrad, President, Chairman and CEO explains. “I saw firsthand how he treated customers, and how his handshake was as good as a contract. Many of our current customers did business with Parker…
Bollinger Wins SCA Safety Award
Bollinger Shipyards was presented the 2017 “Award for Excellence in Safety” by the Shipbuilders Council of America (SCA) on May 17, 2018 during SCA’s Annual General Membership Meeting in Washington, D.C.SCA, the national association representing the U.S. shipyard industry, honors companies with annual safety awards for enhancement of operations and promotion of safety and accident prevention.Ben Bordelon, Bollinger President and CEO, noted Bollinger has earned the SCA Award for…
Conrad Industries Announces 2017 Results and Backlog
Conrad Industries, Inc. (OTC Pink: CNRD) has announced its fourth quarter and twelve months 2017 results and backlog. For the quarter ended December 31, 2017, Conrad had net loss of $3.4 million and loss per diluted share of $0.67 compared to net loss of $836,000 and loss per diluted share of $0.15 during the fourth quarter of 2016. The company had net loss of $2.1 million and loss per diluted share of $0.42 for the twelve months ended December 31, 2017 compared to net loss of $1.7 million and loss per diluted share of $0.33 for the twelve months ended December 31, 2016.
China Considering New Tariffs on 128 US Products
China's commerce ministry said on Friday that it may impose additional tariffs on up to $3 billion of U.S. imports in response to U.S. tariffs on Chinese steel and aluminum products. The ministry said it was considering implementing measures in two stages: first, a 15 percent tariff on 120 products including steel pipes, dried fruit and wine, and later, a 25 percent tariff on pork and recycled aluminum. Below is a list of 128 U.S. 83 22043000 Grape juice other than that of heading item No.
MN100: Conrad Shipyard
Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both commercial and government markets. The company provides both repair and new construction services at its five Gulf Coast shipyards located in southern Louisiana and Texas. Widely recognized for innovation, Conrad has a separate business unit devoted to the construction…
Conrad Shipyard Forms LNG Business Unit
Conrad Shipyard has formed a new business unit focused on LNG projects. Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery, said it continues to actively pursue other LNG opportunities, including developing designs for additional transport barges, dual-fuel powered towboats and other research and development projects. “We believe the continued development of the LNG fuel market to be of critical importance. Not only will it provide positive change with respect to environmental emissions…
Conrad Declares Dividend
Conrad Industries, Inc. which provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas, announced today that its Board of Directors has declared a quarterly dividend of $0.10 per share of common stock. The dividend is payable on June 14, 2016 to shareholders of record on May 24, 2016. Established in 1948 and headquartered in Morgan City, Louisiana, Conrad Industries designs, builds and overhauls tugboats, ferries, liftboats…
US Says China to Scrap Some Export Subsidies
China has agreed to scrap export subsidies on a range of products from metals to agriculture and textiles, the United States said on Thursday, in a step by Beijing to reduce trade frictions with Washington. China is to end a program known as its "demonstration bases-common service platform," which provides export subsidies to Chinese companies in seven economic sectors, the U.S. trade representative's office said. Some industry figures were skeptical about the deal's impact, especially regarding steel, which has been a flashpoint with Chinese overcapacity pressuring U.S. suppliers. One source knowledgeable about the agreement said it was not comprehensive enough to do much to help the U.S. steel industry, given its focus was only on specialty products.
Bollinger Delivers 15th FRC to U.S. Coast Guard
Bollinger Shipyards has delivered the JOSEPH NAPIER, the 15th Fast Response Cutter (FRC) to the United States Coast Guard. The announcement was made by Bollinger’s President & C.E.O., Ben Bordelon. “We are very pleased to announce the delivery of the latest FRC built by Bollinger Shipyards, the JOSEPH NAPIER, to the 7th Coast Guard District in Puerto Rico. The 154 foot patrol craft JOSEPH NAPIER is the 15th vessel in the Coast Guard's Sentinel-class FRC program. To build the FRC, Bollinger used a proven, in-service parent craft design based on the Damen Stan Patrol Boat 4708.
Conrad Industries Appoints Leonard as VP
Conrad Industries, Inc. announced the appointment of Rene J. Leonard as Vice President of Business Development and Engineering. "Rene has been in the shipyard business over 25 years in various capacities including naval architect, project engineer, program manager, director of commercial programs and more recently as Vice President – Engineering for the past ten years, overseeing all functional design development, regulatory approvals, and production engineering," said Johnny Conrad, President and Chief Executive Officer. 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.
Conrad Announces Management Team Changes
Conrad Industries, Inc. announced the appointment of Scott J. Theriot as Executive Vice President and Chief Operating Officer. Johnny Conrad, President and Chief Executive Officer, said, “Scott has been in the shipyard business since 1976 in various positions spending the majority of his career with Bollinger Shipyards and was a member of Bollinger’s senior management team for a total of 25 years. Terry T. Frickey, Chief Operating Officer since February 2005, will assume the new position of Executive Vice President – Business and Product Development and will remain a member of the executive team. Conrad Industries, Inc., established in 1948 and headquartered in Morgan City…
Solving the LNG Propulsion Puzzle
The last piece of the LNG infrastructure puzzle, in the form of North America’s first LNG bunker barge, falls into place at Conrad’s Orange, Texas Shipyard. With continued debate over new emissions standards and compliance dates hanging over the heads of operators in the Emission Compliance Zones like the Sword of Damocles, WesPac Midstream LLC, a provider of liquefied natural gas solutions, and its affiliate Clean Marine Energy, a facilitator of solutions for emission compliance…
Bollinger Promotes Remont to VP
Bollinger Shipyards President and CEO Ben Bordelon announced today another key internal promotion designed to enhance the strategic value of the Company. “I am pleased to announce the promotion of Chris Remont to Vice President and General Manager of our Lockport New Construction division (BLN). Bordelon went on to say “Chris joined Bollinger in May 2014 as Director of Program Management overseeing all aspects of Program Management at BLN. Since that time, he has proven himself to be a key resource in solidifying relationships with our customer and in achieving our divisional objectives.
Bollinger Shipyards Announces New Leadership
Lockport, La.-based Bollinger Shipyards announced that Ben Bordelon will assume the duties of chairman, president and chief executive officer of the company. Ben Bordelon, along with the Chouest family from Galliano, La., has acquired all assets and stock of Bollinger Shipyards, Inc. Bordelon has served in many capacities during his career at Bollinger, and has been a member of the board of directors since 2002. He has served as executive vice president of repair and most recently as chief operating officer of Bollinger Shipyards. Donald G.
Conrad Reports Strong Q2 Results, Backlog
Conrad Industries, Inc. announced its second quarter and six months 2014 financial results and backlog at June 30, 2014. For the quarter ended June 30, 2014, Conrad had net income of $6.8 million and earnings per diluted share of $1.14 compared to net income of $6.1 million and earnings per diluted share of $1.02 during the second quarter of 2013. The company had net income of $13.2 million and earnings per diluted share of $2.21 for the six months ended June 30, 2014 compared to net income of $12 million and earnings per diluted share of $2.01 for the six months ended June 30, 2013.
Bollinger Shipyards Name Richardel V-P & GM of BMF
Bollinger Shipyards announce that Daniel “Danny” Richardel has been named Vice President-General Manager of Bollinger Marine Fabricators, Amelia, Louisiana. Ben Bordelon, Bollinger’s Chief Operating Officer said: “Danny has been an integral component of Bollinger’s success in the many commercial and government programs we have completed over the years. His leadership and management skills will help guide the success of our Marine Fabricators facility for many years to come. Bollinger explain that Richardel has been with them for seventeen years working in various operational positions.
Bollinger Advances in $10 Billion OPC Program
Bollinger Shipyards, Inc. was notified yesterday by the United States Coast Guard (USCG) that Bollinger is one of three companies selected for award of Phase I for the Offshore Patrol Cutter (OPC) program. Chris Bollinger, President of Bollinger Shipyards provided remarks today after receiving this notification. "For over three decades, Bollinger Shipyards has a legacy of producing exceptional Coast Guard Cutters on budget and on schedule. To be selected in the final competition for this program is both exciting and rewarding for our company, our talented workforce, and the State of Louisiana.
Conrad Industries' Performance Rides High in Q3 2013
Morgan City, Louisiana-based Conrad announce positive third quarter 2013 results, and is to pay a special cash dividend of $2.00 per share. For the quarter ended September 30, 2013, Conrad had net income of $6.5 million and earnings per diluted share of $1.09 compared to net income of $4.4 million and earnings per diluted share of $0.74 during the third quarter of 2012. The Company had net income of $18.5 million and earnings per diluted share of $3.10 for the nine months ended September 30, 2013 compared to net income of $12.9 million and earnings per diluted share of $2.13 for the nine months ended September 30, 2012. During the first nine months of 2013…
Lockport, La.-based Bollinger Shipyards, Inc. is humming with work from oil and gas companies and government agencies. Family-owned and operated, Bollinger has 10 shipyards -- nine in south Louisiana and one in Texas -- along with 28 drydocks and 3,000 employees in four administrative locations. Last month, we caught up with Ben Bordelon, Bollinger’s Executive Vice President of Repair, for his outlook on the firm and the Gulf of Mexico. Bordelon is the nephew of Boysie Bollinger, who has been at the helm as CEO since 1985.
Conrad Industries Ratchet Up Q2 2013 Profits
Conrad Industries, Inc., headquartered in Louisiana, announce its second quarter and six months 2013 financial results and backlog at June 30, 2013. For the quarter ended June 30, 2013, Conrad had net income of $6.1 million and earnings per diluted share of $1.02 compared to net income of $5.3 million and earnings per diluted share of $0.87 during the second quarter of 2012. The company had net income of $12.0 million and earnings per diluted share of $2.01 for the six months ended June 30, 2013 compared to net income of $8.5 million and earnings per diluted share of $1.39 for the six months ended June 30, 2012. The diluted weighted average shares outstanding for the six months ended June 30, 2013 and June 30, 2012 are 6.0 million and 6.1 million, respectively.
Bollinger Wins 8th Consecutive SCA Safety Award
Bollinger Shipyards, Inc. was awarded the 2012 “Award for Excellence in Safety” by the Shipbuilders Council of America for the eighth consecutive year. On April 11, 2013, The Shipbuilders Council of America (SCA) presented the “Award for Excellence in Safety” to Bollinger Shipyards, Inc. during the association’s Spring General Membership Meeting in Washington, DC. The Award for Excellence in Safety is given to member companies with the lowest Total Recordable Incident Rates (TRIR) based on a quarterly injury and illness survey conducted by the association.
Conrad Industries Report Smooth Sailing in Q1 2013
US shipbuilder & repairer Conrad Industries, announces its first quarter 2013 results and backlog. For the quarter ended March 31, 2013, Conrad achieved net income of $5.9 million and earnings per diluted share of $0.99 compared to net income of $3.2 million and earnings per diluted share of $0.52 during the first quarter of 2012. The diluted shares for the quarter ended March 31, 2013 are 6.0 million compared to 6.1 million for the quarter ended March 31, 2012. The Company’s financial reports are available at www.otcmarkets.com. Conrad’s backlog was $125.5 million at March 31, 2013 compared to $120.7 million at December 31, 2012 and $70.8 million at March 31, 2012.
U.S. Shipyards Competing – and Succeeding – Overseas
Foreign Demand For U.S. Military And Commercial Vessels Is Brisk; For Now. In the heavy shadow of possible sequestration-induced federal budget cuts, some U.S. companies are busy supplying vessels to overseas customers under the Navy’s Foreign Military Sales program and through private contracts to foreign government and firms. Demand for offshore oil vessels is strong. A big chunk of overseas business now is under the U.S. FMS, transferring defense equipment, services and training to other nations. Countries approved for the FMS pay for vessels themselves and/or with U.S. government help.