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Trimble Settles Class Action Lawsuit

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 Dismissed from Antitrust Suit

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 Reports 2Q Results

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 Acknowledges Suit

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 Set to Defend Canada Price-fixing Lawsuit

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 to Settle Merger Litigation

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


Timeline: BP Oil Spill Litigation

Boom in use around the port of Bayou La Batre, Alabama - May 2010 (Photo: BP)

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


BP Wins One US Court Ruling, Loses Another Over 2010 Gulf Spill

U.S. Coast Guard photo

A U.S. appeals court said BP Plc, which in July reached a $18.7 billion settlement of federal, state and local claims over the 2010 Gulf of Mexico oil spill, must face one of two proposed class-action lawsuits claiming that the oil company defrauded shareholders over the disaster.   The 5th U.S. Circuit Court of Appeals in New Orleans said investors who bought BP's American depositary shares in a 33-day period soon after the spill may pursue group claims that BP initially


Australia Maritime Museum Calls ‘Action Stations’

Artists impression of the Immersive Cinema Experience: drama, danger and suspense on the big screen with a pumping soundtrack to set the scene. (Image: Australian National Maritime Museum)

The Australian National Maritime Museum’s new “Action Stations” attraction officially opened in Darling Harbour, Sydney, on Sunday, offering guests a uniquely dynamic “Immersive Cinema Experience”.   The $12 million (AUD ) Action Stations attraction, located in a new waterfront pavilion, highlights the history of the Royal Australian Navy (RAN) and its people, the various periods of engagement from World War I to the present day and brings to life the human


Navy to Christen Guided Missile Destroyer

Courtesy USN

The Navy will christen its newest Arleigh Burke-class destroyer, Ralph Johnson (DDG 114), Saturday, April 2, during a 10 a.m. CDT ceremony at Ingalls Shipbuilding in Pascagoula, Mississippi. The ship will be christened by the ship sponsor, Georgeanne McRaven. The Honorable Sean Stackley, assistant secretary of the Navy for Research, Development and Acquisition will deliver the principal address. "The christening of the future USS Ralph Johnson represents yet another example of how


Final Agenda for Marad’s Sexual Assault Summit Unveiled

U.S. Maritime Administrator Paul Chip Jaenichen (image: Marad)

The Maritime Administration’s ‘Call to Action’ will address Sexual Assault and Sexual Harassment in the Maritime Industry. Obtained this morning from reliable industry sources, the final agenda for what promises to a lively and possibly contentious meeting set up by the U.S


Kiel Welcomes P&O’s Arcadia on Maiden Call

Arcadia (Port of Kiel)

P&O Cruises’ Arcadia berthed June 22, for her first visit ever to the Port of Kiel, arriving just as the prestigious Kieler Woche sailing regatta marked its half-way point. More than 2,000, mainly British, passengers used the opportunity to visit northern Europe’s biggest maritime


Promoting National Maritime Transport Policy in Saint Lucia

Photo: International Maritime Organization (IMO)

 A national workshop in Saint Lucia has brought together participants from various Government bodies and other stakeholders to discuss the development of a national maritime transport policy.    The workshop is aimed at highlighting the promotion and development of such a policy


Prince Charles Places Final Section of UK Aircraft Carrier

Photo: BAE Systems

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales, (or Duke of Rothesay, as he is referred to in Scotland)


Hearing to Address US Coast Guard Needs

The U.S. Coast Guard and Maritime Transportation Subcommittee, chaired by U.S. Rep. Duncan Hunter (R-Calif.), will hold a hearing next week on U.S. Coast Guard mission needs and a recently completed Government Accountability Office (GAO) review of how the Service allocates its resources.  


Moore Assumes Command of NAVSEA

Vice Adm. Thomas Moore relieves Vice Adm. William Hilarides as commander, Naval Sea Systems Command (NAVSEA) during a change of command ceremony today at the Washington Navy Yard. NAVSEA provides centralized surface ship li

Vice Adm. Thomas J. Moore relieved Vice Adm. William H. Hilarides as commander, Naval Sea Systems Command (NAVSEA) during a June 10 ceremony at the Washington Navy Yard. Moore graduated from the United States Naval Academy in 1981 with a Bachelor of Science in math and operations analysis


Gas Leak on INS Vikramaditya Kills 2 on Board

INS Vikramaditya. Photo: Indian Navy

 Two people, including a sailor, were killed and two others injured after inhaling toxic fumes on board India's aircraft carrier INS Vikramaditya at Karwar Naval base in Karnataka.    The condition of two others injured was stable and constantly being monitored in the Naval


Piraeus Port Shareholders Okays Sale to COSCO

Pic: Port of Piraeus

 The buy-out of the Greece's Piraeus Port by Chinese shipping giant COSCO is closer to completion, as shareholders approved a new concession agreement, reports Reuters.   Greece had already agreed in April to sell a 67 percent stake in Piraeus to COSCO for $415.7 million


This Day In Naval History: June 13

Sketch by LCDR. DeLong of Jeannette stuck and sinking in the ice in June 1881. US Navy image

1881 - The bark-rigged wooden steamship Jeannette sinks after she is crushed in an Arctic ice pack during the expedition to reach the North Pole through the Bering Strait. Only 13 of her crew survive out of 33.   1900 - During the Boxer Rebellion


Jelenić Joins Pacific Merchant Shipping Association

Thomas A. Jelenić (Photo: Pacific Merchant Shipping Association)

Maritime environmental and logistics industry expert Thomas A. Jelenić joins Pacific Merchant Shipping Association (PMSA) as Vice President, the trade association announced today. Jelenić will work in PMSA’s Long Beach office as of June 13, 2016.  


US Navy to Name Attack Submarine USS Arkansas

Image: U.S. Navy graphic by Mass Communication Specialist

 A Virginia-class attack submarine will be called the USS Arkansas, Secretary of the Navy Ray Mabus announced.   Secretary of the Navy Ray Mabus announced that SSN 800, a Virginia-class attack submarine, will bear the name USS Arkansas.  


USMMA Stops Sea Training: UPDATED

U.S. Maritime Administrator Paul Chip Jaenichen

As posted on the Kings Point Alumni Web Site:   Announcement from the Academy While the Department of Transportation (DOT), the Maritime Administration (MARAD), and the United States Merchant Marine Academy (USMMA) have made consistent efforts to address sexual assault and sexual


Nuclear Sub Vladimir Monomakh to Join Pacific Fleet

Vladimir Monomakh. Pic: Russian Navy

 TASS reports that Vladimir Monomakh Borey class nuclear-powered ballistic missile submarine (Project 955) will complete the voyage to the Pacific Fleet before the yearend, quoting Commander-in-Chief of the Russian Navy Admiral Vladimir Korolev.  


USS Michael Monsoor Christened

Sally Monsoor christens the future USS Michael Monsoor (DDG 1001), which is named in honor of her son, Medal of Honor recipient Navy Petty Officer 2nd Class (SEAL) Michael A. Monsoor. (U.S. Navy photo courtesy of Bath Iron Works)

The U.S. Navy’s newest guided-missile destroyer, Michael Monsoor (DDG 1001), was christened on Saturday, June 18 at General Dynamics Bath Iron Works shipyard in Bath, Maine.   The second ship of the Zumwalt-class, DDG 1001 is named for Petty Officer 2nd Class Michael Monsoor


Webb Institute Holds 120th Commencement Ceremony

Webb Institute’s Class of 2016 at the 120th Commencement Ceremony. Pictured is, Lauren West, Michael Walker, Cody Stansky, Dylan Przelomski, Kelly O’Brien, llya Mouravieff, Brian Mills, and Jenny Lorenc. Photo credit, Kerri Allegretta (Photo: Webb Institute)

On Saturday June 18, Webb Institute awarded 19 Bachelor of Science degrees at its 120th Commencement Ceremony. Each graduating student received a dual degree in Naval Architecture and Marine Engineering.    Webb’s commencement ceremony






 
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