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.
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.
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
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 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
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
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
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
Svitzer Americas’ newest vessels Svitzer Monte Cristi and Svitzer Catuan have been delivered by Turkish tug builder Sanmar. The boats, which will be operated in the Dominican Republic, are Ramparts 2400 SX class tugs, designed by Robert Allan Limited exclusively for Sanmar
Port Master Plans for 12 major ports have been prepared keeping in view the requirements for cargo handling till 2035. A total of 142 Port Modernization and 30 Port Connectivity projects have been identified in the Master Plans.
The Navy will christen its newest Virginia-class fast attack submarine, the future USS Colorado (SSN 788), during an 11 a.m. EDT ceremony Saturday, Dec. 3 at General Dynamics Electric Boat Shipyard in Groton, Connecticut. The Honorable Ray Mabus, secretary of the Navy
Roxtec has launched a new inspection, maintenance and installation training company for the United States: Roxtec Services US aims to increase safety for the marine and offshore markets in the area of cable and pipe transits. High safety standards require correctly installed
The latest Container Shipping Forecaster from Maritime Strategies International highlights the contrasting fortunes of liner operators and tonnage providers. The entire container shipping industry remains under significant pressure. Whilst freight rates have improved marginally from the
The recent progress made by International Maritime Organization (IMO) towards reducing greenhouse gas emissions from international shipping has been presented to the UNFCCC Subsidiary Body for Scientific and Technical Advice (SBSTA 45)
On November 8, 2016, shipbuilder General Dynamics NASSCO delivered the American Jones Act-qualified ECO Class tanker Constitution to SEA-Vista LLC. The ship was delivered during a signing ceremony at the builder’s shipyard in San Diego.
Today South Carolina Ports Authority reported nearly two percent growth of twenty-foot equivalent unit (TEU) volume since its fiscal year began in July. SCPA handled 169,477 TEUs in October, an increase from 164,734 TEUs moved during the same month last year
Brodosplit, a ship builder from the Republic of Croatia, has secured an order to build a Polar Class 6 Cruise Ship for an undisclosed client. By signing this agreement Brodosplit solid progress in the realization of their business plans and the inevitable position of the European shipbuilding
Kongsberg Maritime technology has been chosen for installation aboard Australian cruise line Scenic Cruises’ new ice class cruise ship. The 228-passenger, 168 meter long Scenic Eclipse features an ice strengthened hull, but with sleek lines, state-of-the art technology and luxury fittings
Genting Cruises has confirmed its build program for the MV WERFTEN shipyard group following the launch of the first Asian luxury cruise ship, Genting Dream, in Singapore, Hong Kong and Guangzhou, China. Executive Chairman, Tan Sri Lim Kok Thay
The world of AIS can be confusing to newcomers and experienced professionals alike. What is AIS? What data does it gather? How can it help my business? Do I need AIS if I don’t have a business? Class A or Class B transponders? Do I actually need it? There’s a plethora of questions from
SafeMARINER, LLC and the ACTion group’s Marine Internal Lead Auditor (MILA) course has been audited by a third-party registrar and is now recognized as the first internal lead auditor course developed specifically for the inland industry and subchapter M
U.S. Congress announced this morning that it would likely pass a short-term continuing resolution (CR) extension through March 2017. Addressing the proposed CR, the Shipbuilders Council of America (SCA) president, Matthew Paxton, issued the following statement.
Aggressively deploying zero and near-zero emission trucks and cargo-handling equipment and expanding programs that reduce ship emissions are among the core strategies the ports of Los Angeles and Long Beach are proposing for the next version of San Pedro Bay Ports Clean Air Action Plan (CAAP).