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
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
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
Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports. Lisbon is Portugal's second largest port and the dock workers have warned they would continue their stoppage until June 16 if
The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.S. Coast Guard, reported Senator Thad Cochran (R-Miss.).
A U.S. hospital ship conducted a medical evacuation, or “medevac”, May 27 to assist an ailing Republic of Korea sailor aboard a Republic of Korea Navy (ROK-N) submarine. At approximately 10:30 a.m. May 26, the Military Sealift Command operated USNS Mercy (T-AH 19) received
The U.S. Naval Academy graduated 1,076 men and women at the annual graduation and commissioning ceremony May 27 at Navy-Marine Corps Memorial Stadium. U.S. Naval Academy Superintendent Vice Adm. Ted Carter spoke about the particularly significant achievements of the Class of 2016
The U.S. Navy has accepted delivery of the future John P. Murtha (LPD 26) during a ceremony at the Huntington Ingalls Industries (HII) shipyard, May 13. Built at HII’s Ingalls Shipbuilding division, LPD 26 is the 10th San Antonio-class amphibious transport dock built by HII
A new lifeboat station has been opened on the Greek island of Chios – with the cooperation of International Maritime Rescue Federation (IMRF) members – to help support the rescue of migrants in the Aegean. The Lifeboat station was made possible through a partnership
ALP Striker, named at a ceremony held named on May 13, 2016, is the first of four ultra-long distance towing and anchor handling vessels for ALP Maritime Services, each with a bollard pull of approximately 300 metric tons. The vessels of the SX157 design are a part of the ALP
At a meeting of the IMO's Maritime Safety Committee (MSC), it was recognised that ships may also be exposed to so-called cyber-attacks. Now, the IMO wants to prevent hostile attempts to interfere with electronic systems in the maritime industry and it has therefore drawn up interim Guidelines
Ingalls Shipbuilding, a division of Huntington Ingalls Industries (HII), christened the amphibious transport dock Portland (LPD 27) on May 21 in front of approximately 1,000 guests. U.S. Marine Corps Maj. Gen. Christopher Owens, director of the U.S
Towing Vessel Inspection Bureau Holds Annual Membership Meeting; Elects New Leadership and Votes to Proceed with a Third Party Organization Application to the Coast Guard Members of the Towing Vessel Inspection Bureau (TVIB), the recognized professional trade organization of marine
The American Bureau of Shipping (ABS), already one of the world’s well-regarded classification societies, recently restructured its ranks to meet the perpetually evolving needs of its customers. Kirsi Tikka, the global head of marine, and Howard Fireman, CTO, explain.
Group of Seven (G7) leaders will call for respect for the rule of law and peaceful resolution to conflicts in a joint statement to be issued Friday at the end of their two-day summit, taking a swipe against China's territorial ambitions in the South China Sea, reports Nikkei.
Parade of ships signals start of Fleet Week New York 2016 Now in its 28th year, New York Fleet Week has commenced, with ships from the U.S. Navy, U.S. Coast Guard and Royal Canadian Navy sailing into New York Harbor. The parade of ships
Following the delivery of Harmony of the Seas on May 12 in Saint-Nazaire, the American group Royal Caribbean Cruises Ltd. signed an order for three additional vessels, one for its brand Royal Caribbean International (RCI ) and two brand Celebrity Cruises
Following a further round of discussions on 'Places of Refuge' at the IMO last week, prompted by a submission from the EU Member States, the European Commission, shipowners and the maritime insurance industry, IACS today published recommendations addressing the minimum support services for vessels