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
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
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
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
By releasing video of Beijing's island reclamation work and considering more assertive maritime actions, the United States is signaling a tougher stance over the South China Sea and trying to spur Asian partners to more action. The release last week of the surveillance plane footage - showing
Federal order ensures continued action on Santa Barbara County oil spill The U.S. Environmental Protection Agency and the U.S. Coast Guard issued a joint federal Clean Water Act order to ensure the cleanup of heavy crude oil leaked from a pipeline near Refugio State Beach
The United States said on Friday that China had placed mobile artillery weapons systems on a reclaimed island in the disputed South China Sea, a development that Republican Sen. John McCain called "disturbing and escalatory." Brent Colburn
Pressure grew on Friday for a resolution to wage talks between exporters and striking crushers in Argentina's Rosario grains hub, with another powerful union threatening to launch its own industrial action on Monday that would paralyze exports.
India is all set to launch the last of the four anti-submarine warfare (ASW) class stealth corvettes INS Kavaratti, reports Press Trust of India. Kavaratti, which is 90 percent indigenous, is the last of four ASW class stealth corvettes being built for the Indian Navy under Project
Singapore Maritime and Port Authority (MPA) has condemned Iranian forces for firing warning shots in the Gulf at a Singapore-flagged Alpine Eternity which it said was in international waters, calling it a “serious violation of international law”.
The U.S. Navy held a keel laying ceremony for the Virginia-class submarine Pre-Commissioning Unit (PCU) Indiana (SSN 789) at Huntington Ingalls Industries, Newport News Shipbuilding, May 16. The initials of the submarine's sponsor, Diane Donald
The €2 million five-year EU-PolarNet programme brings together 22 of Europe’s internationally-respected multi-disciplinary research institutions to develop and deliver an integrated European polar research programme that is supported by access to first-class operational polar
Transocean Ltd. announced that it has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (the "PSC") and with BP Exploration & Production Inc. and BP America Production Co. ("BP")
China's land reclamation around reefs in the disputed South China Sea is undermining freedom and stability, and risks provoking tension that could even lead to conflict, U.S. Deputy Secretary of State Antony Blinken told a conference in Jakarta.
The National Ocean Industries Association (NOIA) has promoted Megan Bel Miller to Vice President for Government and Political Affairs. She will lead NOIA's Congressional relations and Political Action Committee.Megan joined the NOIA staff in May 2013 as Senior Director
The U.S. Navy's next Virginia-class attack submarine will bear the name USS New Jersey, says AP reports. U.S. Secretary of the Navy Ray Mabus hosted a ship-naming ceremony over the weekend in Jersey City, New Jersey, to announce that SSN 796, a Virginia-class attack submarine
Eighteen U. S. senators have urged the Obama’s administration to halt Shell’s Arctic drilling plans saying that it is an unacceptable and irresponsible decision, says a report in Reuters. Oregon’s Senator Jeff Merkley, joined by seventeen other Senators
The U.S. Coast Guard is working with state and local partners in response to a bulk carrier loaded with sulfur that ran aground in the Gulf of Mexico Tuesday, while transiting outbound from Neches Industrial Park. At approximately 1:30 p.m.
The first in a series of 27,500 cbm 'Dragon' class vessels ordered by Evergas, a world renowned owner and operator of seaborne petrochemical and liquid gas transport vessels, is being delivered from the Sinopacific Offshore & Engineering (SOE) shipyard in China today