Conrad Shipyard Forms LNG Business Unit

Published 2:14 pm Saturday, June 25, 2016

Special to The Leader

Morgan City, LA — Conrad Shipyard (OTC Pink Sheets: CNRD.PK) has announced the formation of a new business unit focused on LNG projects. The new business unit will be led by Conrad Vice President Brett Wolbrink. Conrad President and CEO Johnny Conrad commented on the selection of Wolbrink to lead the LNG unit:

“Brett has served Conrad Shipyard in a variety of management positions, and he has in-depth knowledge of our operation from the ground up,” he said. “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.”

Conrad Shipyard is the builder of the first LNG bunker barge in North America and anticipates a delivery date of early 2017. Conrad continues to actively pursue other LNG opportunities, including developing designs for additional transport barges, dual-fuel powered towboats, and other research and development projects. Wolbrink commented on his new assignment:

“In Conrad’s 68 year history, we have had the opportunity to not only witness, but actively participate in, many historical and technologically innovative transformations in the marine industry. We see the LNG marine fuel market as the next logical progression in this history. Conrad has the experience, the workforce, the facilities, and the leadership to not only take advantage of these opportunities, but to be actively engaged in fostering the continued development of the infrastructure necessary to expand this markets capabilities. Our team is excited and looking forward to the opportunities ahead of us.”

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.