Orion Marine Group, Inc
) recently received a contract award of around $20 million in the
Gulf Coast region. The scope of the contract primarily involves
constructing and dredging a new ship dock for a private client in
the region. Financial details of the contract were not
Orion expects to begin the procurement phase immediately and
plans to start the onsite construction in the third quarter of
2013. The construction work may take roughly 11 months.
Orion is believed to have one of the strongest dredging
equipments in the industry. Some of Orion's main customers
include the U.S. Marine Transportation System and the cruise
industry. Orion is positive about its dredging activity in 2013,
as the expected increases in cargo volume and future demands from
larger ships transiting the Panama Canal will require the
services of ports along the Gulf Coast and Atlantic Seaboard.
This requirement will lead to additional dredging services and
expanded port infrastructure.
Therefore, Orion continues to invest heavily in dredging and
dredging equipments, which comprised 64.3% of the total property
and equipment value in 2012.
Prior to this, in May 2013, Orion received a contract to
dredge 2 million cubic yards of soil on Houston Ship Channel for
about $9 million. The contract was awarded by the U.S. Army Corps
Orion Marine is one of the leading providers of a broad range
of marine construction and contracting needs. The company
currently has a Zacks Rank #2 (Buy). Also, companies in the same
industry such as
EMCOR Group Inc
Primoris Services Corporation
Willdan Group Inc.
) are good options for investment now and they carry a Zacks Rank
EMCOR GROUP INC (EME): Free Stock Analysis
ORION MARINE GP (ORN): Free Stock Analysis
PRIMORIS SERVCS (PRIM): Free Stock Analysis
WILLDAN GROUP (WLDN): Get Free Report
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