Conrad Industries Sees Signs Of Optimism In Offshore Industry

Supply boats, some of which have been anchored since the early 80s, are going back to work in the offshore drilling and exploration industry in the Gulf of Mexico, according to Conrad Industries of Morgan City. La.

The yard recently completed a renovation and liquid mud conversion on one vessel that is now working, and a second vessel now being similarly renovated and converted will be on assignment when the conversion work is complete.

Noting optimism on the new viability of the offshore industry, Conrad's CEO J. Parker Conrad said the Point Sally (nee Ada Lee Fagan) is working, and the Point Mark (nee Grady Fagan) is scheduled for assignment.

The vessels are operated by Point Marine, Inc. of Morgan City.

The Point Sally is 166 by 38 by 13 feet, and the Point Mark is 180 by 38 by 14 feet.

According to data compiled by Offshore Fleet Economics (OFE) and reported in Offshore Data Services, the demand for supply vessels over 150 feet with liquid mud capability is steadily increasing. During a recent week, 191 vessels out of a fleet of 203 were working for a 94 percent utilization rate. The survey conducted by OFE involved 33 companies situated along the Gulf Coast who own and operate support vessels.

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Maritime Reporter Magazine, page 90, Jun 1988

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.