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.
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
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.
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
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
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
The International Association of Classification Societies (IACS) held a joint workshop in Brussels with the European Commission to kick off European Shipping Week, the association announced today. The joint workshop featured speakers from the European Commission's Transport
A record 9.8 million passengers are using the River Thames, two years on from the launch of the Mayor's River Action Plan, it was announced today. The River Action Plan, launched in February 2013, details a host of measures designed to increase the number of river passengers to 12
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling) on time
U.S. Coast Guard Commandant Adm. Paul Zukunft delivered the 2015 State of the Coast Guard Address at U.S. Coast Guard Headquarters in Washington, D.C., Tuesday. "Countries in our hemisphere are on the cusp of instability," Zukunft said
Reducing costs and improving performance Real-time reporting and data analysis are key tools to understanding and improving complex operating environments of today’s companies where the overall effects of any individual action can be very difficult to identify without a proper tool
DNV GL welcomed the world’s largest containership, MSC Oscar, into class. Delivered in January by Daewoo Shipbuilding & Marine Engineering (DSME) in Geoje, South Korea, the 19,224 TEU vessel has already entered service on the line’s new East-West service.
The South Carolina Ports Authority reports 18 Percent Increase in container volume at SC ports; new breakbulk service announced; Vice President, Secretary of Transportation visit The SC Ports Authority handled 152,917 twenty-foot equivalent units, or TEUs, in January
Indonesian Maritime School purchases DNV certified class A Full Mission Bridge Simulator to enhance its training curriculum. VSTEP will deliver and install a NAUTIS DNV Class A Full Mission Bridge Simulator at the Maritime Academy of Cirebon in Indonesia
Bureau Veritas (BV) is to class two projects for gas-fuelled vessels to be built for Canadian owners in Turkish shipyards. British Columbia-based Seaspan Ferries has chosen BV class for two hybrid LNG/diesel/battery-powered ro-ro cargo ferries which will be built at the Sedef yard in
A settlement between the U.S. Coast Guard (USCG) and the operator of the tug Shannon was approved Tuesday by a U.S. Federal Administrative Law Judge. The settlement calls for a two month suspension of Merchant Mariner’s Credentials
The National Retail Federation issued the following statement today from Vice President for Supply Chain Jonathan Gold on the news that terminal vessel operations at the West Coast ports have been suspended: “The continued intransigence by labor and management to reach a new
The cleanup and response operations continue for oil released at the Shell Wharf in Martinez, Wednesday. Assessments conducted throughout Wednesday continue to show no impact to the shoreline or wildlife, and no impact to the Martinez Marina or nearby marsh.
UL/ULC and ATEX Approved LVDT Position Sensors for Worldwide Operation in Offshore Drilling Markets. Macro Sensors offers the HLR 750 Series of UL/ULC listed and ATEX-approved LVDT Linear Position Sensors for use in the high temperature and high vibration environments such as offshore
China has started dredging around the disputed Mischief Reef in the South China Sea, a Philippine navy commander said on Thursday, signalling Beijing may be preparing to expand its facilities in the area. Last year, Chinese President Xi Jinping tried to set Southeast Asian minds at ease over
Gunmen attacked a Greek-owned tanker while it was waiting to load off Nigeria late on Tuesday, killing its Greek deputy captain and taking hostage three other crew, Greece's coastguard said on Wednesday. The attack on the vessel Kalamos