Marine link
 

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


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


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.


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


Washington State Ferry Tacoma Returns to Service

M/V Tacoma (Washington State Department of Transportation)

Washington State Ferry M/V Tacoma will return to work on the Seattle/Bainbridge Island route starting March 28 after suffering electrical damage last summer.   The Tacoma lost power and suffered significant damage to its electrical switchboard system transiting from Seattle to Bainbridge Island in July 2014, requiring ferry maintenance workers, engineers and contractors to spend eight months inspecting and rebuilding the system


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


Valencia to Upgrade Three Ports

PHOTO PORT AUTHORITY OF VALENCIA

Spain’s Port Authority of Valencia (APV) has unveiled plans upgrade three of its ports by 2020. The Business Plan approved at the last Board of Directors of the Port Authority of Valencia includes investments in its three ports 56.19 million euros during the year 2017 and plans to invest


Port of Santos Bullish on 2017

Logo: Companhia Docas do Estado de São Paulo (Codesp)

 In a year of changes and challenges in the national and global scenarios, Companhia Docas do Estado de São Paulo (Codesp) (Santos Port Authority) has developed actions to maintain the position of the Port of Santos as the main port complex in Latin America.   


ABB Propulsion, Automation and Software for Five Cruise Ships

Photo: ABB

ABB will supply the complete power, propulsion and automation package for a series of new cruise vessels being built by MV WERFTEN for Genting Hong Kong brands Crystal Cruises and Star Cruises.   The three Crystal Cruises’ luxury “Endeavor Class” mega-yachts will feature a


IMO Secretary-General Speaks Out Against Regional Emission Trading System

Photo: International Maritime Organization (IMO)

 International Maritime Organization (IMO)  Secretary-General Kitack Lim has written to senior European officials expressing his concern that including shipping in the European Union’s Emission Trading System (EU-ETS) could undermine efforts to reduce greenhouse gas (GHG) emissions


Obama Looks to Block Arctic, Atlantic Drilling

file image: an offshore production platfom (CREDIT: James Fisher)

U.S. President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, Bloomberg reported, citing two people familiar with the decision. Obama's move, which could come as soon as today


Obama Bans New Drilling off Alaska, Part of Atlantic Shore

(Official White House Photo by Pete Souza)

U.S. President Barack Obama on Tuesday banned new oil and gas drilling in federal waters in the Atlantic and Arctic Oceans, in a push to leave his stamp on the environment before Republican Donald Trump takes office next month.   Obama used a 1950s-era law called the Outer Continental Shelf


ECSA Adopts Position on European Policy for Arctic

Photo: European Community Shipowners’ Associations (ECSA)

 European shipowners welcomed earlier this year the adoption of the integrated European Union policy for the Arctic region.    “We believe that the three priority areas identified cover all topical Arctic matters. Climate change and environment


Fourth Submarine in UK’s Astute Class Named

Photo: BAE Systems

The fourth submarine in the Astute class was officially named Audacious during a December 16 ceremony at builder BAE Systems’ Submarines site in Barrow-in-Furness, Cumbria.   Guests watched as Lady Jones, Audacious' sponsor and wife of Admiral Sir Phillip Jones


Obama's Arctic Ban and Aftermath

Photo courtesy: BP p.l.c.

 US President Barack Obama has permanently banned offshore oil and gas drilling in the "vast majority" of US-owned northern waters.   Vowing that his successor won’t be able to reverse his actions, President Obama on Tuesday used executive authority to permanently ban


India to Push Coastal Shipping

Indian Shipping Minister Nitin Gadkari. Photo by PIB, Govt of India

 Coastal shipping provides benefit in the form of less environmental pollution due to lower per km consumption of fuel.     However, unavailability of consolidated cargo, return cargo and general lack of awareness among shipper community make coastal shipping unviable.  


Russian Navy to Get Two Subs

Photo: US Naval Institute

 In recent years, Russia has been putting many efforts in building a modern-day nuclear submarine fleet.   The Russian Navy expects to receive the Project 955A nuclear submarine Prince Vladimir and the Project 885M Yasen-M nuclear-powered underwater cruiser Kazan in 2017


USS Rafael Peralta Completes Acceptance Trials

The future USS Rafael Peralta (DDG 115) sets sail on October 17, 2016 for the first time to conduct initial at-sea builders trials off the coast of Maine. (Photo: U.S. Navy)

 The future USS Rafael Peralta (DDG 115) successfully completed acceptance trials Dec. 16 after spending two days underway off the coast of Maine. The U.S. Navy's Board of Inspection and Survey (INSURV) reviewed the ship and its crew during a series of demonstrations while underway


Ingalls to Build NSC 9 for USCG

Munro, the sixth U.S. Coast Guard National Security Cutter (NSC) built at Ingalls Shipbuilding, ngalls has delivered six NSCs and has two more under construction. Photo Photo by Lance DavisHII

Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division has received a $486 million fixed-price incentive contract from the U.S. Coast Guard to build a ninth National Security Cutter. “With the experience and knowledge our shipbuilders bring to this program


USCG Fines Ferry Passenger for Laser Incident

MV Tokitae (Photo: WSF)

A Washington resident has been fined for interfering with the safe operation of a Washington State Ferry (WSF) passenger vessel by shining a laser at the ferry’s master and chief mate. Mark Raden of Freeland, Wash. was aboard the WSF Kitsap transiting between Mukilteo and Clinton on


Metal Shark Makes Multiple Latin American, Caribbean Deliveries

The PRPD testing one of its new Metal Shark 36 Fearless patrol boats in the Atlantic Ocean near San Juan, Puerto Rico. (Photo: Metal Shark)

Louisiana-based boatbuilder Metal Shark has announced several new contracts with Latin American and Caribbean operators, further expanding the company’s presence in the region. At a recent ceremony with Puerto Rico’s Governor Alejandro Garcia Padilla in San Juan






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright