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, 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, 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.
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.
Last month Kongsberg Marine launched the Compact DP Series from Kongsberg Maritime. A solution for the smaller vessel and operator, it offers a complete DP class 1 solution for dynamically positioned vessels and is designed to meet the requirements of Offshore Service Vessels and workboats. The system consists of two main components, the cPos and cJoy, both of which use Kongsberg RCU technology, within the (cPos or cJoy) Compact Controller
Production has commenced for the Royal Australian Navy’s (RAN) Armidale Class patrol boats. To be built in Western Australia over a 42-month period, the 12 vessel fleet will act as the principal maritime patrol and response element of Australia’s National Civil Surveillance Program. Project partners Austal Ships and Defence Maritime Services (DMS) held a ceremony attended by Senator David Johnston, Senator for Western Australia, representing the Minister for Defence
Special from the Department of Defense The Navy will commission the newest Arleigh Burke-class guided-missile destroyer, the USS Kidd (DDG 100), June 9 in Galveston, Texas. Designated hull number DDG 100, the new destroyer honors Medal of Honor recipient Rear Adm. Isaac Campbell Kidd Sr. On Dec. 7, 1941, Kidd was commander of Battleship Division 1 and the senior officer present afloat during the Japanese attack on Pearl Harbor
MarineNews: How long has your current safety training program been in place? Bruce Adams: The current Schlumberger New Employee Safety Training program (NEST), was developed in 1991. This is a six day, intensive training course covering a variety of mandatory safety topics. In 1992, the National Ocean Industries Association (NOIA) recognized the program as the best overall training program in the offshore industry and awarded Schlumberger the NOIA "Safety in Seas" award for 1992.
National Steel and Shipbuilding Company (NASSCO), a wholly owned subsidiary of General Dynamics (NYSE:GD), today announced the delivery of the USNS Soderman (T-AKR 317) to the U.S. Navy. The Soderman is the eighth and final new construction ship completed by NASSCO under the U.S. Navy's Strategic Sealift Program. "Delivery of the Soderman concludes a very successful long-term contract for the Navy," said Richard Vortmann, President of NASSCO
The IMO issued Safety of Navigation Circular 226 entitled Dangers of Conflicting Actions in Collision Avoidance
Future 'USS Michael Monsoor' (DDG 1001) keel authenticated at the General Dynamics-Bath Iron Works shipyard. The keel authenticators were George and Sally Monsoor, parents of the ship's namesake Medal of Honor recipient Petty Officer Second Class Michael A. Monsoor
Vice President Joe Biden welcomed the U.S. Coast Guard Academy’s Class of 2013 as the Coast Guard’s newest officers, saluting their service and emphasizing the important role they play in meeting the nation’s many maritime needs.
McMurdo, a business of the Orolia Group, announced that Smartfind M5 AIS Class A Transponder is now available. The Smartfind M5 Automatic Identification System (AIS) Class A Transponder, previewed at Marine Equipment Trade Show (METS) 2012 in Amsterdam
The 27th new Tamar class lifeboat was handed over to the Royal National Lifeboat Institution (RNLI) by Babcock , marking the last lifeboat to be built for the charity by Babcock under the existing contract. The 16-meter Tamar class slipway-launched lifeboat
General Dynamics NASSCO recently delivered USNS Montford Point (MLP-1), the lead ship of the Mobile Landing Platform (MLP) class, to the U.S. Navy. The ship is named in honor of Camp Montford Point, the Jacksonville, N.C., site where the first African-American Marines were trained.
The Australian Department of Defense released a request for tender to CEA Technologies for the development of a High Power Phased Array Radar concept demonstrator. CEA Technologies Pty Ltd is a Canberra-based company whose CEAFAR radar is being fitted to the ANZAC Class Frigates of the Royal
Shell Petroleum Development Company Limited (SPDC) has declared force majeure on gas supplies to Nigeria LNG, effective 09:00 hrs (Nigerian time) on Wednesday, May 15 2013. This action is due to production deferment following a reported leak along the Eastern Gas Gathering System (EGGS-1)
Keppel FELS delivered a second KFELS B Class jackup rig to offshore Mexican oil field services company, Integradora de Servicios Petroleros Oro Negro. Named Laurus at Keppel FELS today, the rig was delivered eleven days early and with a perfect safety record, Keppel noted.
The European Commission has adopted an Action Plan to revitalise the marine & maritime economy in the Atlantic Ocean Area. The Action Plan aims to show how the EU's Atlantic Member States, their regions and the Commission can help create sustainable growth in coastal regions and drive forward
Great Lakes Shipyard hauled out the United States Coast Guard Cutter Neah Bay (WTGB-105) using its 770-ton capacity Travelift. The repair contract, awarded to the Shipyard in early March, includes routine drydocking and underwater hull maintenance such as inspection and testing of propulsion
The U.S. nuclear-powered aircraft carrier arrives to participate in joint naval drills as part of routine training according to the Combined Forces Command. The 97,000-ton Nimitz, one of the world's largest warships, made a port call at the southeastern port city of Busan for a three-day stay to
IMO's Maritime Safety Committee has adopted an earlier recommendation that ships display 3 all-round green lights when crossing the Singapore Strait Traffic Separation Scheme (TSS). The night signals identify these vessels crossing the TSS during hours of darkness which will allow other vessels
The third of four Ocean Class Tugs has been delivered to Crowley from Bollinger Marine Fabricators. The Ocean Sun is DP 2, measures 156 feet in length and is rated at 10,880 HP. The vessel is outfitted for long-range, high-capacity ocean towing, rig moves, platform and floating production
With construction underway on the first ever Oblique Icebreaker, research specialist Aker Arctic Technology has unveiled a new version of the vessel type that will bring ice management and pollution control in thick first year ice to a new level.
The RINA Group has entered a framework agreement to supply certification and engineering services to UAE-based Drydocks World - Dubai (LLC). Under an MOU signed in Rome (Italy) today Drydocks World will draw on RINA Group's field of expertise to deliver assistance on project management and