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.
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
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 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
The Coast Guardsmen of Station Cape Charles are used to responding to disasters at sea. On July 24 that changed as they scrambled to a scene where only their training, teamwork and devotion to duty could help them respond to a disaster ashore. Crewmembers on duty were just beginning their physical training when several members heard their phones go off in unison. A tornado had just touched down in a popular campground nearby and ripped through the rows of trailers and tents
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
The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships. There was yet another “world first” today in South Korea at the
Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard. The announcement was made by Bollinger Chief Operating Officer, Ben Bordelon: “We are extremely happy to announce the delivery of the latest FRC built by
The construction of a new vessel of dredging fleet, project TSHD 2000, has been launched to the RS class in Da Nang, Vietnam. The keel laying ceremony was held at Song Thu Corporation shipyard November 21, 2014. It was attended by Andrey Tarasenko, General Director of FSUE Rosmorport
The six vessels (plus four options) placed in the Norwegian yard will be assigned Lloyd’s Register (LR) class notations 100A1, Offshore Supply Ship AHTS, Fire Fighting Ship 1 (2400), Ice Class 1A PS, RD (2.8), IWS. Steel cutting is expected to begin in June 2015 with the first two
Falling overboard is a life-threatening emergency, not only for the person in question but also for those involved in their rescue. Every step in the rescue process has its own associated hazards and in such a fraught and potentially distressing situation a well-structured rescue plan is essential
COSLProspector, the fourth deep-water semi-submersible drilling rig built by CIMC Raffles for China Oilfield Services Limited (COSL), has been delivered in Yantai, Shandong Province. It represents another milestone for China’s deep-water drilling rig going into the global mainstream market
Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports from BHP Billiton and Fortescue Metals Group Ltd. The Australian Institute of Marine & Power Engineers (AIMPE) a day earlier
This year’s “Award for Exceptional Bravery at Sea” is given to the crew from the DFDS ship BRITANNIA SEAWAYS. The award is presented by United Nations’ International Maritime Organization (IMO) for exceptional bravery displayed at sea.
The U.S. Coast Guard (USCG) and U.S. Environmental Protection Agency (EPA) will soon take action to ensure compliance with the forthcoming 0.10 percent fuel sulphur limits in the North American and U.S. Caribbean Sea Emmission Control Areas (ECAs), the USCG’s Maritime Commons said.
Deltamarin Ltd. has provided Aker Arctic Technology Inc. with design services for two polar class heavy deck carrier ships intended for carrying heavy project cargos in large modules to Yamal LNG plant construction site on the Russian Yamal peninsula.
Belgian law firm Deminor said it had been contacted by 15 to 20 investment firms considering legal action over the failure of OW Bunker, the world's largest shipping firm which filed for bankruptcy a week ago. Deminor, which specialises in representing institutional investors in class actions
Hamburg Süd yesterday christened another containership in its San class, as the official naming ceremony of the newbuild San Clemente was held at the Marina Bay Cruise Center in Singapore, with customers and business partners. The San Clemente is one of Hamburg Süd’s series of
American Sensor Technologies, Inc. (AST) has achieved ATEX certification of its Explosion Proof Pressure Transmitters for Class I Zone 0 Exd hazardous locations. The added approvals enhance the ability for equipment manufacturers to specify AST pressure transducers as the sensors can now
Lamprell received a new contract award valued at approximately $365 million from National Drilling Company (NDC) for the construction and delivery of two further high specification jackup drilling rigs of a Super 116E (Enhanced) Class. Lamprell was previously awarded contracts by NDC for a
The Governor-General, His Excellency General the Honourable Sir Peter Cosgrove, His Excellency Dr Christoph Müller, Ambassador of the Republic of Germany, and Chief of Navy, Vice Admiral Tim Barrett, travelled to the Cocos (Keeling) Islands to commemorate the action between HMAS