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Class Action

Trimble Settles Class Action Lawsuit

Trimble announced the settlement of the securities class action lawsuit filed on December 6, 1995 against the company and certain of its current and former officers and directors. The final court-approved settlement was funded by insurance proceeds and payment by the company of $1.8 million. The entire amount of the company's obligations was previously reserved. The settlement will not adversely affect Trimble's financial results.


Trailer Bridge Dismissed from Antitrust Suit

Trailer Bridge, Inc. announced that in a non-final order of the court, the company has been dismissed with prejudice against the named plaintiffs from a lawsuit seeking class action status related to alleged anti-competitive activity in the Puerto Rico marine trade.  In an April 30, 2010 ruling by non-final order, the United States District Court for the District of Puerto Rico granted Trailer Bridge’s motion to be dismissed with prejudice from the lawsuit.


Horizon Lines Acknowledges Suit

Horizon Lines, Inc. announced on Jan. 2 that it has been named as a defendant in a securities class action lawsuit in the United States District Court for the District of Delaware purportedly on behalf of purchasers of the Company's common stock during the period from March 2, 2007 through April 25, 2008. The Chief Executive Officer of the Company, as well as several former employees of the company, were also named as defendants.


NYK Set to Defend Canada Price-fixing Lawsuit

NYK Line (Canada) Inc. (CA) has received notice of a class action civil complaint filed against them along with several other ocmpanies on July 4, 2013. NYK Group have also been informed that they are named defendants in the suit served on CA and will likely be named in other suits with CA. 1. Background to the Lawsuit The lawsuit was filed to seek compensation for alleged damages, injunctive relief and other relief alleging a conspiracy to fix price of services for the ocean transportation


Horizon Lines to Settle Merger Litigation

Horizon Lines, Inc. announced it has reached an agreement in principle providing for the settlement and dismissal, with prejudice, of the consolidated putative class action complaint pending in the Delaware Court of Chancery in connection with Horizon's proposed merger with Matson Navigation, Inc., a subsidiary of Matson, Inc. Pursuant to the settlement with plaintiffs, which is subject to Court approval, Horizon agreed to make certain supplemental disclosures to Horizon's stockholders


Tidewater Reports 2Q Results

Tidewater Inc. announced second quarter net earnings for the period ended September 30, 2007, of $86.5 million, or $1.56 per common share, on revenues of $319.0 million. For the same quarter last year, net earnings were $104.2 million, or $1.86 per common share, on revenues of $274.0 million. The immediately preceding quarter ended June 30, 2007, had net earnings of $87.5 million, or $1.55 per common share, on revenues of $305.5 million.


BP Wins One US Court Ruling, Loses Another Over 2010 Gulf Spill

U.S. Coast Guard photo

A U.S. appeals court said BP Plc, which in July reached a $18.7 billion settlement of federal, state and local claims over the 2010 Gulf of Mexico oil spill, must face one of two proposed class-action lawsuits claiming that the oil company defrauded shareholders over the disaster.   The 5th U.S. Circuit Court of Appeals in New Orleans said investors who bought BP's American depositary shares in a 33-day period soon after the spill may pursue group claims that BP initially


Timeline: BP Oil Spill Litigation

Boom in use around the port of Bayou La Batre, Alabama - May 2010 (Photo: BP)

BP Plc was found "grossly negligent" on Thursday by a federal judge in connection with its role in the 2010 Gulf of Mexico oil spill. The decision by U.S. District Judge Carl Barbier in New Orleans, who oversees litigation related to the disaster, is likely to boost the British oil company's costs emerging from the biggest offshore spill in U.S. history. April 20, 2010 Rig Explodes: An explosion on the Deepwater Horizon oil rig at the Macondo exploration well kills 11 workers


Australia Maritime Museum Calls ‘Action Stations’

Artists impression of the Immersive Cinema Experience: drama, danger and suspense on the big screen with a pumping soundtrack to set the scene. (Image: Australian National Maritime Museum)

The Australian National Maritime Museum’s new “Action Stations” attraction officially opened in Darling Harbour, Sydney, on Sunday, offering guests a uniquely dynamic “Immersive Cinema Experience”.   The $12 million (AUD ) Action Stations attraction, located in a new waterfront pavilion, highlights the history of the Royal Australian Navy (RAN) and its people, the various periods of engagement from World War I to the present day and brings to life the human


Navy to Christen Guided Missile Destroyer

Courtesy USN

The Navy will christen its newest Arleigh Burke-class destroyer, Ralph Johnson (DDG 114), Saturday, April 2, during a 10 a.m. CDT ceremony at Ingalls Shipbuilding in Pascagoula, Mississippi. The ship will be christened by the ship sponsor, Georgeanne McRaven. The Honorable Sean Stackley, assistant secretary of the Navy for Research, Development and Acquisition will deliver the principal address. "The christening of the future USS Ralph Johnson represents yet another example of how


BAE Systems Bags USN Award for Submarine Propulsors

Driving Virginia Class Forward Photo BAE Systems

BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The award continues the company’s current position as the premier provider of propulsors to the U.S. undersea fleet.  


Pacific Nations Take a Stand on Shipping Emissions

Photo: IMO

On Earth Day, Pacific leaders queued among 175 countries to sign the Paris Agreement in New York. Earlier that day in London, the International Maritime Organization (IMO), the United Nations Framework Convention on Climate Change (UNFCCC)’s sister UN specialized agency


ANZAC Class Frigate Sustainment Deal Signed

HMAS Perth Anzac Class Frigate, Australia Photo RAN

The Turnbull Government has signed a long-term contract for the sustainment of ANZAC Class Frigates centred in Western Australia.   The strategic partnership between BAE Systems Australia Defence Pty Limited, Saab Australia Pty Ltd, Naval Ship Management Australia Pty Ltd (a joint venture


Singapore Revokes Two Bunker Licenses

Photo: Vermont UM Bunkering

 Singapore's Maritime and Port Authority (MPA) have revoked two bunker suppliers' license to operate in the world's top bunker port.    The two companies have, according to the authority, violated the terms and conditions for bunker activities in the port.  


ECSA Looks Forward to Improvement of Shipping Conditions in Arctic

Photo: The Whitmore Group

 European shipowners believe that the three priority areas of the new EU Arctic Policy Communication published by the Commission this week address all topical Arctic matters. Climate change and environment, sustainable development and international cooperation in the Arctic are equally


EU Adopts New Arctic Policy

 The High Representative for Foreign Affairs and Security Policy and the European Commission have adopted a policy proposal that will guide the actions of the European Union in the Arctic region.   The European Union will step up its existing action and engagement in the region with 39


German Navy's Third F125 Frigate Christened

Photo: ThyssenKrupp Marine Systems

The German Navy's third F125-class frigate Sachsen-Anhalt was christened in March during a ceremony held at ThyssenKrupp Marine Systems shipyard in Hamburg. Dr. Gabriele Haseloff, wife of the premier of the state of Saxony-Anhalt after which the frigate has been named


ABS Reflects on Strong 2015 Performance

Christopher Wiernicki (Photo: ABS)

153rd meeting of the classification society highlights class-centric strategy and vision for the future of class   ABS held its Annual Meeting on April 26, 2016 in New York, where Chairman, President & CEO Christopher J. Wiernicki reported that “2015 was a year of moving forward


AIS Regulations: New Responsibilities and Opportunities

(Photo: Stevens Towing Co., Inc.

March Coast Guard deadline represents milestone for AIS use in U.S. waters   From increasing situational awareness and enhancing the safety and security of maritime transportation, to its use in accident investigation, search and rescue, Aids to Navigation and asset monitoring


IRClass Enhances Services to Indian Navy

Neelam Handover Class Certificate Photo IRS

IRClass, the Indian Register of Shipping, today announced an increase in the range and level of services it provides to the Indian Navy, with the advent of naval vessels in service being maintained in IRClass. “Several types of Indian Naval vessels have been, and are being


APT’s 2nd ECO Class Product Carrier Christened

Magnolia State (Photo: General Dynamics NASSCO)

 On Saturday, April 23, General Dynamics NASSCO hosted a christening ceremony for the second Jones Act ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. U.S. Representative Scott Peters spoke at the ceremony


Officer Sentenced for Role in Fatal Ferry Crash

The second officer who admitted his actions were responsible for the death of a fisherman, has been sent to prison.   Pasquale Miccio pleaded guilty to a breach of section 58 of the Merchant Shipping Act 1995 as amended, on March 24, 2016 in the High Court of Justiciary, Glasgow


Indian Aircraft Carrier to Get Russian Weaponry

INS Vikrant. Photo: Indian Navy

 Russia could supply air defence systems and other equipment to the Indian Vikrant-class aircraft carrier currently under construction, says a report by IANS.   The first of the Vikrant-class aircraft carriers, the INS Vikramaditya, is Russian-built


Incat Crowther Delivers SEACOR Marine’s 2nd FSV

Delivery of Second Very Fast Offshore Support Vessel Courtesy Incat Crowther

Incat Crowther announced the delivery of Najla McCall, the second vessel in SEACOR Marine’s Express Plus class of Fast Support Vessels (FSV). Sistership to the Alya McCall launched in November last year, Najla McCall has seating capacity for 100 personnel and achieved an operational speed


Caterpillar Maintains Dividend Rate

Doug Oberhelman, Caterpillar Chairman and CEO Photo credit Caterpillar

The Board of Directors of Caterpillar Inc. (NYSE: CAT) voted today to maintain the quarterly cash dividend of seventy-seven cents ($0.77) per share of common stock, payable May 20, 2016, to stockholders of record at the close of business on April 25, 2016.






 
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