The American Bureau of Shipping (ABS) has granted Approval in Principle (AiP) to Samsung Heavy Industries (SHI) and Conrad Shipyard for the basic design of a 12,000-cubic-metre LNG bunkering articulated tug-barge (ATB) planned for construction in the United States.The approval follows a memorandum of understanding between SHI and Conrad Shipyard to jointly develop and build LNG bunkering ATBs.
Conrad Industries, Inc. announced its 2025 results and backlog.For the quarter ended December 31, 2025, Conrad had net income of $4.7 million and earnings per diluted share of $0.94 compared to net loss of $14,000 and earnings per diluted share of $0.00 during the fourth quarter of 2024. The Company reported net income of $19.9 million and income per diluted share of $3.