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.
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
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
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
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
ESL Shipping Ltd and the steel company SSAB have signed a long-term frame agreement covering SSAB’s inbound raw material sea transports within the Baltic Sea and from the North Sea. The purpose of the agreement is to enable mutual
The Alaska Marine Highway System (AMHS) has awarded the Alaska Class Ferry project to Vigor Alaska shipyard in Ketchikan, Alaska, where construction is currently underway. Providing production design for the ferry is Seattle-based naval architecture and marine engineering consultancy Glosten
Modelling work over the past two years by the Pilbara Ports Authority (PPA) has identified opportunities to increase the shipping capacity in Port Hedland's channel over the next three years to as much as 577 million tonnes a year.
China's top admiral said his forces have shown "enormous restraint" in the face of U.S. provocations in the South China Sea, while warning they stand ready to respond to repeated breaches of Chinese sovereignty. Beijing, which claims almost the entire energy-rich South China Sea
U.S. shipbuilder General Dynamics Bath Iron Works held a keel-laying ceremony on November 16 for the Thomas Hudner (DDG 116), the company’s 36th Arleigh Burke-class guided-missile destroyer. The Arleigh Burke-class destroyer is a multi-mission combatant that offers defense against a
In October a number of trade bodies released a joint press release to formally announce a reduction of the High Risk Area (HRA). Insurance companies have said the reduction may not result in reduced insurance costs due to the assessment of insurance risk being dependent on
Huntington Ingalls Industries' Shipbuilding division christened the U.S. Coast Guard Nationacompany’s sixth l Security Cutter (NSC), Munro (WMSL 755), in front of nearly 600 guests. Julie Sheehan, the great niece of the ship’s namesake
Lifting Gear Hire (LGH) and Industrial Training International (ITI) have partnered to offer training for prospective rigging students. ITI will offer both network training courses – Rigging Gear Inspector Levels I & II and Lift Director & Critical Lift Planning – to students
The heavy marine transportation provider BigRoll Shipping announced its first of four MC Class vessels under construction, BigRoll Barentsz, was launched on October 27, 2015 at Cosco Dalian Shipyard. The vessel construction and commissioning remains on schedule for delivery in March 2016.
Power transmission equipment company Twin Disc, Inc., announced additional restructuring and cost reduction activities aiming to further reduce expenses, as a result of challenging global market conditions within the company's oil and gas, global pleasure craft and Asian commercial marine markets
Secretary of the Navy Ray Mabus announced that SSN 798, a Virginia-class attack submarine, will bear the name USS Massachusetts during a taped video message at Gillette Stadium. The submarine will be named to honor the history its namesake state has with the Navy
The United States will conduct freedom of navigation operations in the South China Sea again, U.S. Defense Secretary Ash Carter said in a speech on Saturday, although he gave no timeline for any such actions. Carter's comments, delivered at a defense forum at the Ronald Reagan
The Group delivered a profit of USD 778m (USD 1.5bn) negatively impacted by the lower oil price and lower average container freight rates, down 51% and 19% respectively compared to the same period last year. The return on invested capital (ROIC) was 7.6% (12.7%)
Three Chinese naval vessels have arrived at a US Naval Station Mayport in Jacksonville, in the US state of Florida, reports Xinhua. The "goodwill" visit will help build trust and increase understanding, according to the Mayport Public Affairs Office
The issue of freedom of navigation in the South China Sea should not be "hyped up" or used as an excuse for provocation, China's defence minister said on Wednesday, in response to recent U.S. action in the sea. Minister of National Defence Chang Wanquan made the remarks at a forum of