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
Ingalls Shipbuilding has begun fabrication of Destroyer Delbert D. Black (DDG 119) for the U.S. Navy Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division Tuesday marked the start of fabrication for the U.S. Navy’s Arleigh Burke-class (DDG 51) guided missile destroyer
Simrad launched three new products in its professional line: the HS60 GPS Compass, V5035 Class-A AIS, and M5000 Series Monitors. Simrad HS60 GPS Compass The new GPS compass, the HS60, brings expanded functionality to traditional heading sensors such as rate-of-turn and pitch-and-roll output
The U.S. Navy and Republic of Singapore Navy completed the 21st annual Cooperation Afloat Readiness and Training (CARAT) Singapore after 11 days of comprehensive training both at sea and ashore, July 24. CARAT Singapore featured a series of dynamic training engagements including a
In what is being seen as a landmark decision, Hill Dickinson is the first law firm to have successfully defended a UK class action case involving a Norovirus outbreak onboard a cruise liner. The case, which involved an outbreak of gastroenteritis onboard the “THOMSON SPIRIT”
Russia is expected to finish the construction of a submarine base on the Kamchatka Peninsula by the end of October. "Upgrades to the Russian Navy’s ballistic nuclear missile submarine (SSBN) base in the Pacific could be completed by October, Russian Navy chief Adm
Global shipping consultancy Drewry predicts the container ship industry will be "lucky to break even this year" as shipping rates slump due to catastrophic overcapacity. A toxic mixture of overcapacity, weak demand and aggressive commercial pricing is threatening liner
North Star Shipping has reinforced its fleet of next generation vessels after taking delivery of its new ERRV, the Grampian Devotion, in Aberdeen. The latest vessel represents the eighth and final D-class IMT-950 Emergency Response and Rescue vessels (ERRVs) that the company has had
Inchcape Shipping Services (ISS) is advising of pending strike action by customs staff at the Port of Necochea, Argentina. The ‘pen down’ strike (staff will attend their place of work but not perform any duties) is pay-related and scheduled to take place on the following
Inchcape Shipping Services (ISS) is advising that planned strike action by customs staff at the Port of Necochea, Argentina, has been lifted and suspended for 15 days. The ‘pen down’ strike was scheduled to take place on the following dates: July 10, July 16 and July 17 2015
The French company DCNS has released details of the new submarine it wants to build for Australia as a replacement for the navy's Collins subs. DCNS is offering Australia a new submarine design it calls the Shortfin Barracuda as its contender in the $50 billion new submarines project
Environmental activists in the U.S. prepare to take their so-called “kayaktivism” nationwide as they urge lawmakers to revoke oil and gas exploration leases in the Chukchi Sea, says environmental group Friends of the Earth. The group’s “Shell No” day on July 18
The National Security Cutter James (WMSL 754) sailed away from Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division on Sunday, July 12, one month after being delivered to the U.S. Coast Guard, HII announced. The newbuild vessel James will be commissioned on August 8 in
The National Armed Forces of Latvia said they found a submarine on Sunday and a group of Russian warships in the exclusive economic zone of Latvia. The Sputnik reports that the Armed Forces saw Russian Kilo-class sub and a Tarantul-class corvette between four and six nautical miles
Pipavav Defence & Offshore Engineering Co Ltd (PDOC) has announced a joint venture (JV) with Russia's JSC Ship Repairing Centre Zvyozdochka for medium refits and life certification of eight EKM 877 submarines in the country.
L-3 KEO announced it has been awarded a multi-million dollar contract option from the Naval Sea Systems Command (NAVSEA) for nine MK 20 Electro-Optical Sensor Systems (EOSSs). L-3 KEO will build and test the systems, as well as perform engineering services activities