Latest news with #PortTampaBay
Yahoo
20-06-2025
- Business
- Yahoo
Orion Group announces $100M in new Marine and Concrete awards
Orion Group (ORN) announced new Marine and Concrete awards for a total value of approximately $100M. 'We are proud to be recognized with new contract awards that reflect the trust our partners place in us. These achievements are a testament to the strength of our team, our commitment to the highest safety standards, and the progress we are making in expanding our business development pipeline. Our strong delivery and consistent execution have enabled us to successfully expand our client relationships and Port Tampa Bay is a good example. For many years, we have been their longstanding partner for maintenance dredging and new construction projects. We are pleased to play a role in their expansion initiatives aimed at enhancing the port's capacity and efficiency. In our Concrete business, we continue to see strong demand, supported by the next phase of a large data center project and several projects in our home state. With our strong reputation and robust pipeline, we are well positioned for continued growth,' said Travis Boone, Chief Executive Officer of Orion Group. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on ORN: Disclaimer & DisclosureReport an Issue Orion Group management to meet virtually with B. Riley Orion Group management to meet virtually with Craig-Hallum U.S.-China talks continue, IBM making large-scale quantum computer: Morning Buzz Orion Group price target raised to $11.50 from $9 at B. Riley Orion Group Holdings Appoints New CFO Alison Vasquez Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
19-06-2025
- Business
- Associated Press
Orion Group Holdings Awarded $100 Million in New Contracts
HOUSTON, June 19, 2025 (GLOBE NEWSWIRE) -- Orion Group Holdings, Inc. (NYSE: ORN) ('Orion' or the 'Company'), a leading specialty construction company, today announced new Marine and Concrete awards for a total value of approximately $100 million. In addition, Orion's Chief Executive Officer and General Counsel were honored with executive leadership awards. Management Commentary 'We are proud to be recognized with new contract awards that reflect the trust our partners place in us. These achievements are a testament to the strength of our team, our commitment to the highest safety standards, and the progress we are making in expanding our business development pipeline,' said Travis Boone, Chief Executive Officer of Orion Group Holdings, Inc. 'Our strong delivery and consistent execution have enabled us to successfully expand our client relationships and Port Tampa Bay is a good example. For many years, we have been their longstanding partner for maintenance dredging and new construction projects. We are pleased to play a role in their expansion initiatives aimed at enhancing the port's capacity and efficiency.' Boone continued, 'In our Concrete business, we continue to see strong demand, supported by the next phase of a large data center project and several projects in our home state. With our strong reputation and robust pipeline, we are well positioned for continued growth.' New Contracts Orion's Marine business recently secured $67 million in new wins. For Weyerhaeuser Company, Orion Marine was awarded the Longview Export Dock Replacement project. This work involves removing the existing timber Berth A structure and replacing it with a new concrete structure supported by large-diameter steel pipe piles. The project is expected to last 12 months and will begin in the third quarter of 2025. In addition, Orion Marine won two projects with the Port of Tampa Bay. The first award is a 3-year maintenance dredging contract for the Port, estimated to begin work in September 2025. The second contract is for the Port Redwing Berth 301 Wharf project – a crucial project given the rapid population growth in the Tampa Bay region and the increasing demand for construction and bulk materials. Orion Concrete won $33 million in new contract awards, including a data center project in Iowa, the Harris County Sheriff's Office Complex in Houston as a subcontractor for Durotech, Inc., and the foundation of a cold storage facility for U.S. Foods. These projects will commence in the third quarter of 2025 with an estimated duration of one year. In addition, the Company was recently awarded a contract with the City of Ingleside wastewater treatment plant as a subcontractor to Associated Construction Partners. This project is expected to begin in December of 2025 with a duration of 12 months. Executive Leadership Awards Orion's executive leadership team was recently recognized for outstanding achievements. Travis Boone, Orion's Chief Executive Officer, was named a finalist for the EY Entrepreneur of The Year® 2025 Gulf South Award, presented by Ernst & Young LLP. This prestigious recognition honors visionary business leaders who are driving innovation and growth across industries. Chip Earle, Orion's General Counsel, won the Lexology North America Award for in-house general counsel in the construction industry. In association with the Association of Corporate Counsel, Lexology recognizes the outstanding achievements of the world's leading legal practitioners across various practice areas and sectors. About Orion Group Holdings Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Hawaii, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company's marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas. Forward-Looking Statements The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the 'safe harbor' provisions of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as 'believes', 'expects', 'may', 'will', 'could', 'should', 'seeks', 'approximately', 'intends', 'plans', 'estimates', or 'anticipates', or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, guidance, outlook, assumptions, or goals. In particular, statements regarding our pipeline of opportunities, financial guidance and future operations or results, including those set forth in this press release, and any other statement, express or implied, concerning financial guidance or future operating results or the future generation of or ability to generate revenues, income, net income, gross profit, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, or cash flow, including to service debt or maintain compliance with debt covenants, and including any estimates, guidance, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward-looking statements also include project award announcements, estimated project start dates, ramp-up of contract activity and contract options, which may or may not be awarded in the future. Forward-looking statements involve risks, including those associated with the Company's fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints, and any potential contract options which may or may not be awarded in the future, and are at the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. Considering these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company's plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law. Please refer to the Company's 2024 Annual Report on Form 10-K, filed on March 5, 2025 which is available on its website at or at the SEC's website at and filings and press releases subsequent to such Annual Report on Form 10-K for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts. Contact: Margaret Boyce Orion Group Holdings, Inc. [email protected] 312-402-6980 Source: Orion Group Holdings, Inc.
Yahoo
05-02-2025
- Business
- Yahoo
Florida port official fears Trump's funding freeze
WASHINGTON — President Donald Trump's executive order freezing infrastructure funding authorized by Congress is putting billions of dollars, hundreds of thousands of jobs and tens of thousands of projects at risk, according to Democrats in Congress. The head of a major American seaport agreed. 'Our entire industry is very alarmed and concerned about the pause on grant funding,' Paul Anderson, president and CEO of Port Tampa Bay, told lawmakers at a House Transportation and Infrastructure maritime subcommittee hearing on Wednesday. Anderson, a past chairman of the American Association of Port Authorities, said the concern was significant enough to warrant an emergency meeting of representatives from ports around the country. 'There's a lot of uncertainty, and [the funding pause] will be very difficult and burdensome for ports that have had strategic planning involving the use of federal grants.' But Anderson also believes it's too early to panic. 'We're very early on in this new administration. I think we need patience to let this work its way out,' he told the committee. 'I think once this is reevaluated and looked at, pragmatism will win the day. We can't just stop delivering funds – these grants … are critical to competing on the world stage.' Two competitive grants that ports rely on for expansion projects, the Port Infrastructure Development Program (PIDP) and the Marine Highway Grant Program, were swept up in Trump's recent executive orders and policy memos that halted federal project funding. The Bipartisan Infrastructure Law provided $2.25 billion for the PIDP program over five years (2022-2026), with $450 million made available for fiscal year 2025. A memo issued last week by the Office of Management and Budget rescinded the funding freeze, but lawmakers and port executives are still unsure of the status of project money that has already been approved. U.S. Rep. Salud Carbajal, D-Calif., the ranking member of the subcommittee, said the subcommittee 'has yet to get clear answers' from the U.S. Maritime Administration, which administers the grants, about whether any port projects have so far had to be halted. U.S. Rep. Rick Larsen, D-Wash., said that property adjacent to the Port of Anacortes in his district 'has been sitting unused to its maximum job potential for a long time, and now that's on pause,' due to funding uncertainty. 'Imagine that story being told in every Democratic and Republican district in this country right now, because of this uncalled for pause.' Trump's plans to dismantle the U.S. Agency for International Development is also taking a toll on the U.S. maritime sector, the subcommittee was told, because much of the international cargo included in programs administered by the agency is required to be hauled by U.S. flag ships. 'Right now for us this is a major issue,' Brian Schoeneman, legislative director for the Seafarers International Union of North America, testified before the subcommittee. 'I've talked to one of our biggest food aid carriers, they have ships currently sailing. One of them already has been laid up because they don't have cargo. Another one is on its way back from Africa, and it will get laid up when it gets here. Every time they lay a ship up, that's 20 to 30 jobs for my members, and we don't know how long these ships are going to be out of service.' He said one U.S. flag carrier is still owed $6 million under its government contract and 'they're worried about never getting paid.' Democrats see budget cuts aimed at making the federal government more efficient as weakening America's ability to compete in the maritime sector with foreign adversaries. 'Continued threats and actions to claw back infrastructure funding are sowing chaos and will have devastating impacts on the maritime industry, national security and economic security,' Larsen said. 'China heavily subsidizes port and maritime operations, while the U.S. does not.' Schoeneman asserted those subsidies amount to billions, if not trillions, of U.S. dollars. 'In less than 30 years, China has emerged as the dominant commercial maritime power,' he said. 'They are the world's largest shipowner, the world's largest shipbuilder, and they control most of the world's trailer chassis, maritime cranes, and shipping container supply. 'In that same period, the United States has invested a pittance. While we aren't failing when it comes to our infrastructure, we're on the brink. We as a nation have not made maritime a priority, but our opponents have, and the proof is all around us.' House lawmakers crack down on Chinese ocean freight data Ports call out 'sensationalized' targeting of foreign container cranes Red Sea cargo diversions could affect 2024 holiday shipping Click for more FreightWaves articles by John Gallagher. The post Florida port official fears Trump's funding freeze appeared first on FreightWaves.
