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
Long acknowledged as a firm to watch in U.S. crewboat and fast supply boat innovation, Seacor Marine will be attracting industry attention once again when its latest set of new boats begin delivery in 2014. While this new class of mono-hull boats have some big dimensions
Huntington Ingalls Industries' Ingalls Shipbuilding division apprises it has hosted a visit by Secretary of Homeland Security Secretary Jeh Johnson and U.S. Rep. Steven Palazzo (R-Miss.). In the course of their visit the guests toured the shipyard and the Ingalls-built National Security Cutter
Marine insurance – just like health, automobile and homeowner’s insurance – can be a valuable safeguard in case something unexpected happens. And when something bad happens, it provides reassurance that you have assistance in place to help get back to business quickly.
Included in the latest listing of contracts awarded by the US Department of Defense, Navy, are two contracts with General Dynamics Bath Iron Works, Bath, Maine. Details as follows: 1. Fleet maintenance & support This is a $28,716,385 delivery order under a previously awarded basic ordering
Today in U.S. Naval History - April 1 1893 - Navy General Order 409 of February 25, 1893 establishes the rate of Chief Petty Officer as of this date. 1917 - Boatswain's Mate 1/c John I. Eopolucci, a Naval Armed Guard on board the steamship Aztec
Turbulent seas and extreme weather can make sailing conditions perilous. Having a crew who are trained to understand how to minimize risks and manage the vessel under duress can make all the difference when trying to avoid loss of life. Deep Water Handling
No further cleanup actions recommended following survey of rocky cove near BP Whiting Refinery An assessment team, comprised of representatives from the Coast Guard, Environmental Protection Agency and BP, stated Friday that no further cleanup actions were recommended following a scheduled
Innovative Damen, Delft University of Technology and De Vries Naval Architects gain royal approval Damen Shipyards Group announced it worked with Delft University of Technology to design and apply the latest in the field of shipbuilding for the new prototype (search and rescue) SAR 1906 lifeboat
Gazprom and Ukraine locked in gas price dispute; Russian gas transit to Europe via Ukraine stable. Russian natural gas producer Gazprom said on Tuesday Ukraine had failed to pay for its March gas supplies on time but did not say whether the company would take any action against Kiev.
The risk of strike action at Port Hedland has escalated, after two more unions representing tugboat workers sought permission to ballot workers which possibly could lead to industrial action. Last week, the Maritime Workers' Union representing tug deckhands won
Today in U.S. Naval History - April 10 1941 - USS Niblack, while rescuing survivors of torpedoed ship, depth charged German submarine; first action of WW II between U.S. and German navies 1963 - During diving tests, USS Thresher lost with all hands (112 crew and 17 civilians) east of Cape Cod
Hong Kong’s Center for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today, April 14, that in view of a notification from the Japanese authorities about an outbreak of high-pathogenic H5 avian influenza on a broiler farm in Kumamoto Prefecture
U.S. President Barack Obama told Russian President Vladimir Putin on Monday that the United States preferred a diplomatic solution to the crisis in Ukraine but blasted Russia for taking actions that were not "conducive" to such a path.
Rolls-Royce congratulated the US Navy on the christening of the USS Zumwalt, the first of its new and highly sophisticated DDG 1000 multi-mission destroyer class of ship. The 600 foot long all-electric ship was christened by sponsors Ann Zumwalt and Mouzetta Zumwalt-Weathers at Bath Iron Works in
Ukrainian forces launched a "special operation" on Tuesday against separatist militia in the Russian-speaking East, authorities said, although aside from a landing by airborne troops the action was limited. Soldiers disembarked from two helicopters at an airfield at Kramatorsk