Conrad ‘s new business unit aimed at LNG market

Rendering of LNG bunker barge under construction at Conrad Orange in Orange, TX Rendering of LNG bunker barge under construction at Conrad Orange in Orange, TX

JUNE 24, 2016—Shipbuilder Conrad Shipyard, Morgan City, LA, has formed a new business unit focused on developing designs and building vessels for the Liquefied Natural Gas (LNG) market.

As you might recall from our earlier reports, Conrad Shipyard has taken the lead in the construction of the first LNG bunker transport barge, which is being built to serve TOTE’s two 3,100-TEU LNG-fuelled containerships that operate out of the Port of Jacksonville, FL, in Jones Act service to San Juan, PR. The 2,200 m3 bunker barge is under construction at Conrad Orange in Orange, TX, and expected to be delivered in early 2017. Conrad is the only U.S. shipyard currently certified and licensed to build vessels using GTT Mark III Flex tank technology.

The formation of the new business unit will seek to build on the company’s success. It will seek additional contracts for bunker barges and transport barges, and research projects, as well as self-propelled vessels such as dual-fuel towboats.

The new division will be headed by Conrad Vice President Brett Wolbrink. “Brett has served Conrad Shipyard in a variety of management positions, and he has in-depth knowledge of our operation from the ground p,” said Conrad President & CEO Johnny Conrad. “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, but will ultimately provide significant long-term positive economic results for owners and operators. We want Conrad to be an active participant and a leader in the development of this market.”

Want more? Subscribe now!

News from NASDAQ