Conrad holds keel laying for Young Brothers tugs

Glenn Hong, President of Young Brothers, Limited of Hawaii holds a framed print of the Kāpena Jack Young, the first of the new vessels to be delivered Glenn Hong, President of Young Brothers, Limited of Hawaii holds a framed print of the Kāpena Jack Young, the first of the new vessels to be delivered

DECEMBER 1, 2016 — Conrad Shipyard (OTC Pink Sheets: CNRD.PK) has held a keel laying ceremony for the four Kāpena Class tugs now under construction for Young Brothers, Limited of Hawaii.

The 6,000 horsepower, 123 ft x 36.5 ft vessels are designed to match with Young Brothers' fleet of modern high capacity barges (delivered from 2007 to 2010). The tugs will be built to Damen Stan 3711 design and will be powered by General Electric, 8L250MDC, EPA Tier 4 emissions compliant engines using exhaust gas recirculation.

Young Brothers is a Saltchuk company, operated by Foss Maritime.

Those attending the keel laying included Glenn Hong, President of Young Brothers, Ltd; Jonathan Parrott, President of Foss Maritime, and Tim Engle and Mark Tabbutt of Saltchuk.

Also taking part were Kommer Damen, Chairman and CEO of Damen Shipyard, and Jim Watson, President of ABS Americas and a number of local officialsDan Conrad, Senior Vice President Conrad Shipyard served as moderator. The Morgan City High School Band presented the colors, and Monsignor Doug Courville delivered the Invocation.

"We are investing to serve the Hawaiian Islands for decades into the future," said Mr. Hong. "Young Brothers is a company with a long tradition of giving back to the communities we serve, and we are delighted to join with Conrad, a company with a matching philosophy. We wish you well as you bring these ships to life," he said.

Noting the role of Damen Shipyards in securing the contract, Johnny Conrad, Chairman and CEO of Conrad Shipyard said, "Damen's global footprint and their unique business plan of standardization streamlines construction and provides cost effective solutions to our customers."

Artist's rendering of Damen Stan 3711 tugs to be built by Conrad Shipyard for Young Brothers, Ltd of Honolulu

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