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Class Action

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.


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


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


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.


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


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


Clean Fortnight Activities in Chidambaranar Port

Photo: V.O. Chidambaranar Port Trust

 As per the directives of Government of India, the ‘Swachhta Pakhwada” (fortnight-long cleanliness) activities are being executed on priority basis by V.O. Chidambaranar Port Trust.    As per the scheduled Swachh Pakhwada Action Plan, today, on 20.03


MOL Holds Graduation Ceremony for Filipino Seafarers

A commemorative shot of graduates with guests. Photo: Mitsui O.S.K. Lines

 Mitsui O.S.K. Lines announced the graduation of 88 students in the sixth class of the "3rd Year Program," which MOL introduced with the goal of developing crewmembers who will uphold strict safety standards in vessel operation.  


Deck Carrier BigRoll Beaufort Delivered

BigRoll Beaufort (Photo: BigRoll Shipping)

The heavy marine transportation provider BigRoll Shipping has reached a milestone. The fourth and final MC Class vessel for BigRoll shipping was handed over by Cosco Dalian Shipyard Co. Ltd to new owner BigRoll Shipping in Leiden, the Netherlands.  


Norway’s USN to Upgrade Its Maritime Simulators

The simulator upgrade at the University College of Southeast Norway will support a wider course offering and new R&D projects (Photo: Kongsberg)

The University College of Southeast Norway (USN) has contracted Kongsberg Digital to deliver a major upgrade of its maritime simulator park. The contract, signed on March 16, 2017, includes five new K-Sim ship’s bridge simulators to be delivered during Autumn 2017 in addition to a Long Term


New Briese Vessels Sport Schottel Propulsion

Illustrations of Briese multi-purpose vessel “D’Artagnan.” (Image: Groot Ship Design)

Briese Group contracted Groot Ship Design to deliver the design and basic engineering package for four multi-purpose vessels. Schottel performed enhanced CFD investigations to determine the optimal aftship configuration incorporating nozzle support and streamline body between rudder and hull


Virginia Pilots Orders New Pilot Boat

The Virginia Pilot Boat Corporation has ordered a Chesapeake Class MKII launch from Gladding-Hearn Shipbuilding. The MKII, a new generation of the shipyard’s popular, smaller class of pilot boats, is the Virginia pilots’ eighth Gladding-Hearn pilot boat. Delivery is scheduled for 2018


NASSCO Delivers Final Tanker for SEA-Vista

Liberty (Photo: General Dynamics NASSCO)

U.S. shipbuilder General Dynamics NASSCO has delivered the third and final ship for SEA-Vista LLC as part of the builder’s larger eight-ship ECO Class tanker program.    The LNG-conversion-ready Jones Act tanker Liberty was delivered on March 1


Maiden Anti-Ship Missile Launch by Kalvari

Kalvari sent to the dock for setting afloat to Naval Dockyard (Mumbai). File Photo: Indian Navy

 The Indian Navy has successfully conducted the maiden firing of an Anti-Ship missile from the first of the indigenously built Kalvari class submarines, during a test firing in the Arabian Sea.    The missile successfully hit a surface target at extended ranges during the trial


ABB: Propelling the Polar Cruise Boom

Image: ABB

ABB Azipods help to propel a new generation of Arctic capable cruise ships   Leveraging its experience in the distinct polar and cruise vessel segments, ABB and its Azipod are at the forefront of the booming polar passenger vessel market


US Navy, JMSDF Complete MultiSail 17

Photo:  United States Navy

 Commander, Destroyer Squadron (DESRON) 15 and the Japan Maritime Self-Defense Force (JMSDF) completed the annual bilateral training exercise MultiSail 17, March 10.   The six-day exercise consisted of surface action group maneuvers, anti-submarine training


Denel-tkMS MOU for Submarine Upgrades

 Photo: ThyssenKrupp Marine Systems GmbH

 As Denel gets ready to revive the Naval Dockyard facilities in Simonstown, the company is collaborating with ThyssenKrupp Marine Systems GmbH (tkMS) for joint support of the SA Navy frigates and submarines.   Denel, which is a global supplier of world-class defence products and


Celebrity Cruises Reveals Celebrity Edge

“The Retreat” is an ultra-exclusive private utopia reserved exclusively for Suite Class guests featuring a luxurious pool and sun chairs for ultimate relaxation. Photo: Celebrity Cruises

 Richard Fain, the chief executive officer of Royal Caribbean Cruises Ltd.and Lisa Lutoff-Perlo, CEO of Celebrity Cruises—one of three brands in the Royal Caribbean family—announced a new category of ship that, among other transformational design moves


Mazagon Docks to Make 3 more Scorpene-Class Subs

Photo: Mazagon Dock Shipbuilders

 Mazagon Dock Shipbuilders Limited has approached the Indian Navy with a repeat order for three Scorpene-class submarines, reports The Hindu Businessline.   The leading shipyard of the country has  French shipbuilder DCNS as its technology partner for the Scorpene submarines.


OP/Ed: Obama’s Arctic Decision Undercut His Own Legacy

Official White House Photo by Pete Souza

On December 20, 2016, in an 11th hour unilateral action designed to cement his environmental legacy, President Obama withdrew 3.8 million acres in the north and mid-Atlantic Ocean and 115 million acres in the U.S. Arctic Ocean (including the entire Chukchi Sea and a significant portion of the


ABS Exec Delivers Cyber Risk Wakeup Call

Tony Nassif (Photo: ABS)

ABS Chief Operating Officer Tony Nassif shares insights on cyber-related challenges and the role of class at the Connecticut Maritime Association’s annual conference.   ABS participated in the 32nd annual CMA Shipping Conference and Exhibition in Stamford, Conn






 
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