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
The Maritime and Port Authority of Singapore (MPA) has fined JL Petroleum for supplying marine fuel in the world’s largest bunkering hub without a valid license. In an announcement on Wednesday, MPA said it brought charges against JL Petroleum for selling bunkers on 14
A mini order boom fueled by gas, “green-tech”, tankers and new rules is underway in shipbuilding. It won’t fill all yards, but changes like the July 2015 cap on sulfur emissions garner retrofit and rush orders. Even China’s Directive 55 obliges its mixed bag of yards to
While September is Suicide Prevention Month, subject matter experts from the 21st Century Sailor Office's Suicide Prevention Office, OPNAV N171, say their goal isn't to prevent suicide on just a single day or month, but every day of the year.
A man found guilty of making numerous hoax calls to the U.K. Coastguard has been jailed for four months, the U.K. Maritime and Coastguard Agency (MCA) reported. Alasdair Munro, 55, from Kyleakin, Skye, denied all charges before Sheriff Scott at Portree Sheriff Court on August 27, 2015
The Canadian province of Alberta, the biggest source of U.S. oil imports, announced the members of its climate change policy review panel on Friday, part of its pledge to implement new rules on greenhouse gas reductions. Environment Minister Shannon Phillips said the panel would offer
A national strike action has been implemented by customs staff, potentially affecting Brazilian Ports from August 19, Inchcape Shipping Services (ISS) is advising. The ‘standard operation’ strike (minimum permitted numbers of staff on duty) is pay-related and currently has no
Artful, the third of the U.K. Royal Navy’s new Astute Class attack submarines, has arrived at her Scottish base port from where she will carry out sea trials before entering service later this year, the U.K. Ministry of Defense announced.
The world’s largest shipping association BIMCO will be taking action to raise awareness about IT Security. It will focus on how to handle a maritime casualty crisis at its next annual conference in Hamburg on 18th November, 2015.
DNV GL has developed a new class notation for gas bunker vessels that targets safer fuel transfer operations from one ship to another. Until now, the development of standards guiding gas fuel transfer operations in ports has lagged behind, as the maritime industry focussed on developing
The Navy will lay the keel for the second Gerald R. Ford-class aircraft carrier John F. Kennedy (CVN 79) Saturday, August 22, 2015 at 10 a.m. John F. Kennedy, designated CVN 79, is the second aircraft carrier to honor President John F
Secretary of the Navy Ray Mabus hosted a ship-naming ceremony today to announce that SSN 799, a Virginia-class attack submarine, will bear the name USS Idaho. The submarine will be named to honor the history its namesake state has with the Navy
Crews aboard two Coast Guard cutters brought an 83-foot fishing vessel safely to anchorage at approximately 8 p.m. Sunday. Watchstanders at the First Coast Guard District Command Center, were notified at 11:30 a.m. Saturday that the scallop fishing vessel Chaz’s Toy lost
The Company: Since its founding in 1862, the American Bureau of Shipping (ABS), a New York registered not-for-profit corporation, has been committed to setting standards for safety and excellence as one of the world’s leading classification societies
Suited for a range of recreational boaters and commercial vessels across the world, the new AISLink CB1 Class B transceiver is introduced by survival gear specialist ACR Electronics, a Drew Marine Company. ACR’s easy-to-use and reliable Class B Automatic Identification System (AIS)
Kalmar, part of Cargotec, has delivered the three hybrid shuttle carriers ordered by The Port of Virginia in late 2014, to Virginia International Gateway terminal (VIG) in Portsmouth, Virginia, USA. The environmentally advanced units have been in action in VIG since last week.