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.
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
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
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.
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
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
"Abu Dhabi" ASW corvette and "Ghantut" FALAJ2 patrol vessel deliverd to United Arab Emirates Navy by Fincantieri's Muggiano Shipyard. Abu Dhabi-class Corvette The "Abu Dhabi class" project has evolved from the "Cigala Fulgosi" one, which led to the construction of four "Commandante" class ships for the Italian Navy. The contract also involves supplying the UAE Navy with logistical support and crew training
Officials with the World Trade Center Mississippi River Alliance (WTC MSRA) and the Big River Coalition (BRC) have signed a Memorandum of Understanding outlining a cooperative effort to preserve and promote economic growth on the Mississippi River and Tributaries (MRT).
Among the latest listing of US Department of Defense contracts are those for the dredging of Newport News Navigation Channel, examination of littoral combat ship (LCS) core class shipyard services; and for the leasing of a submersible vessel, as follows: Dredging contract
Emirates classification society Tasneef has classed its first commercial vessel. The 96,214 dwt oil tanker Energena is jointly-classed with Italian classification society Rina. Yesterday His Highness Sheikh Majid Bin Mohammed Bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority
Commercial seaborne shipping is regulated by international, EU and national authorities and is subject to a number of commercially oriented constraints. The long history and large number of organizations associated with regulation has led to a high level of complexity in managing the development
Around 120 families in Batbatan and Maniguin Islands in Culasi, Antique received three sacks of rice and four boxes of assorted dry goods as volunteers from seven different groups conducted relief and medical mission. The group was composed of the personnel from Coast Guard Station (CGS)
A recent report US Government Audit Office (GAO) report, mandated by the House, discussed amongst other issues: (1) quality problems in constructing recently delivered ships and Navy actions to improve quality and (2) key practices employed by leading commercial ship buyers and
The Federal Maritime Commission (FMC) is accepting further public comment on the P3 Network Vessel Sharing Agreement until midnight Friday, November 29, 2013. On October 24, 2013, A. P. Moller-Maersk A/S, CMA CGM S.A. and MSC Mediterranean Shipping Company, S.A
Six vessels and two individual mariners were recognized for courageous acts at sea at the 44th annual United Seamen's Service (USS) 2013 Admiral of the Ocean Sea Awards (AOTOS) attended by more than 700 guests at the Sheraton Times Square Hotel in New York City.
Washington State Ferries say they are another step closer to significantly reducing fuel costs and transportation emissions by switching a class of vessels from diesel fuel to liquefied natural gas. After more than three years of study, WSF has a plan to safely convert six Issaquah Class
Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno cited 12 offshore operators for their failure to demonstrate compliance with the Safety and Environmental Management Systems (SEMS) requirements of the Workplace Safety Rule, 30 CFR Subpart S
Commitment Class Jones-Act Ships to Offer Lower Emissions; Increased Speed, Reliability and Capacity, and Optimized Vehicle Shipping Decks. The next chapter in Crowley’s storied history of shipping and logistics services between the United States mainland and Puerto Rico will be written
Officials with the World Trade Center Mississippi River Alliance (WTC MSRA) and the Big River Coalition (BRC) have signed a Memorandum of Understanding outlining a cooperative effort to preserve and promote economic growth on the Mississippi River and Tributaries (MRT)
The 144-foot towboat 'Stephen L. Colby ' struck a submerged object near LeClaire and sank. At the time of the sinking, nine crewmembers were aboard and all were able to make it to safety, reports the Coast Guard Sector Upper Mississippi River.
Contract signed to upgrade Collins Class Submarines Defence Minister Senator David Johnston announced the Defence Materiel Organisation has signed a multi-million dollar contract with ASC Pty Ltd to update the control management and monitoring system for the Royal Australian Navy’s
In conjunction with the first meeting of the newly established European Sustainable Shipping Forum (ESSF), which is scheduled to take place today, the shipping industry in a joint statement urges the European Commission to provide support in meeting the IMO requirement for 0