In this article, I'll discuss a small shipbuilder from Morgan City, Louisiana. Conrad Industries (CNRD) builds steel and aluminum marine vessels mainly consisting of barges, tug boats, tow boats, ferries, lift boats, and aluminum crew/supply vessels (annual report 2017). The company was founded in 1948 operating just one shipyard in Morgan City. Now, it owns 5 shipyards of which four are in Louisiana and one in Texas.
(Source: screenshot from company video Deepwater South facility)
Summary
After experiencing some very good years during the period of 2011-2014, Conrad slumped because of a