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
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
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
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
Commander, U.S. Naval Forces Europe-Africa, Adm. Mark Ferguson announced the 2015 CNE-CNA Shore Sailor, Sea Sailor and Junior Sailor of the Year in a ceremony held at Naval Support Activity, Naples, Capodichino, Jan 29, 2016. Operations Specialist 1st Class Amparo Balderas, from Commander
A new 24-hour general strike in Greece is planned for February 4, by both public and private sector unions, while the Seamen’s Union is scheduling another 48-hour strike on the same date, Inchcape Shipping Services (ISS) is advising.
DNV GL’s Maritime CEO Knut Ørbeck-Nilssen recently met with Konstantin Palnikov, Director General of the Russian Maritime Register of Shipping (RS), at the RS head office in St. Petersburg to sign a bilateral framework agreement for cooperation between both class societies
Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited resigned on December 28, 2015, the Company’s Board of Directors was comprised of two Class II directors, two Class III directors
Los Angeles-class fast-attack submarine USS City of Corpus Christi (SSN 705) has docked at Yokosuka port in Japan as part of its Asia-Pacific region itinerary, the US Navy announced in a news release. City of Corpus Christi has conducted a multitude of missions and maintains
Paragon Shipping Inc. announced that it has entered into an agreement to sell M/V Kind Seas for a cash consideration of $3.5 million to an unaffiliated third party and the delivery of the vessel was concluded on January 8, 2016. The Company has also agreed with Bank of Ireland to apply
The Swedish Maritime Organisation has advised the following ice restrictions in force with effect from 18 January 2016: Karlsborg – Luleå Minimum ice class IB and 2000 dwt Haraholmen – Örnsköldsvik och Ångermanälven
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered Halul, a KFELS B Class jackup rig, to Gulf Drilling International Ltd. (q.s.c) (GDI) of Qatar. Completed on 21 January 2016, ten days ahead of schedule, and on budget
Bureau Veritas (BV) is to class a new concept luxury expedition cruise vessel to be built for Australia’s Scenic group. The 165m vessel will be built at Croatia’s Uljanik shipyard for delivery in summer 2018. It will have lower berth accommodation for 228 passengers and 172 crew and
Ferries were docked at Greek ports on Wednesday as sailors kicked off their second 48-hour strike this week, adding to a groundswell of public discontent over plans to reform the country's struggling pension system. Prime Minister Alexis Tsipras launched a vocal defence of the plan on Tuesday
Dry bulk shipping is facing a perfect storm and requires drastic supply side measures if the industry is to return on course to profitability in the medium term, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
A general strike in Greece has been extended by another 48 hours and is affecting the routes of domestic and local ferries and commercial vessels calling at Piraeus, Aspropyrgos, Eleusis, Pachi and Megara ports for cargo discharging, announced Inchcape Shipping Services (ISS).
An unarmed Iranian drone flew directly over a U.S. aircraft carrier operating in international waters in the Gulf this month in a move that was "abnormal and unprofessional," the U.S. military said on Friday. "The UAV was unarmed and posed no risk to the carrier's flight
The Paris climate agreement’s target of limiting global warming well below 2°C will be impossible without measures to curb shipping’s greenhouse gas emissions, MEPs told industry representatives last week.
Aiming to help deepen United States’ maritime partnerships with India, U.S. Chief of Naval Operations Adm. John Richardson will make his first visit to India February 2 through February 6. Richardson’s first stop will be in New Delhi