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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


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.


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


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


Harren & Partner to Acquire SAL Heavy Lift

Photo: SAL Heavy Lift

 Bremen-based shipping company Harren & Partner and "K" Line, Tokyo, have reached an agreement for Harren & Partner to acquire German carrier SAL Heavy Lift today (27 July 2017).    SAL will become the new dominant player in the super heavy lift segment (900 t to


Safe Bulkers Reports 2Q Loss, Buys Newbuild

Photo: Safe Bulkers

 Safe Bulkers has reported a loss of $1.6 million in its second quarter ended June 30, 2017 as compared to $9.0 million, during the same period in 2016.  The shipping company posted revenue of $35 million in the period   Net loss for the six months of 2017 was $4


U.S. Sanctions Vens as Pressure Builds on Maduro

The Trump administration imposed sanctions on 13 senior Venezuelan officials as the country's opposition launched a two-day strike on Wednesday, heaping pressure on unpopular President Nicolas Maduro to scrap plans for a controversial new congress.  


US Navy to Commission Gerald R. Ford

Photo: United States Navy

 The Navy will commission its newest aircraft carrier, the future USS Gerald R. Ford (CVN 78), during a 10 a.m. EDT ceremony Saturday, July 22, at Naval Station Norfolk.    USS Gerald R. Ford (CVN 78) is the lead ship of the new Gerald R


MALABAR - 2017 Commences in Bay of Bengal

Photo: Indian Navy

 Naval cooperation between India, US and Japan epitomises the strong and resilient relationship between the three democracies.    The MALABAR series of exercises, initiated in 1992 between the Indian and US Navies, have steadily grown in scope


Austal Opens Cairns Office

Hon Warren Entsch MP, Member for Leichardt joined Austal’s Vice President, Defense RADM (Retd) Davyd Thomas AO CSC to open Austal’s office in Cairns Queensland 10th July 2017. (Photo: Austal)

Austal Australia was joined by Warren Entsch, Federal Member for Leichardt, to officially open its vessel sustainment office in Cairns, the latest effort in the expansion of Austal’s national footprint.   The shipbuilder said its new Cairns sustainment facilities will employ nearly 30


Portland (LPD 27) Completes Builder's Sea Trials

The amphibious transport dock Portland (LPD 27) has completed her first set of sea trials. The test and trials team at Ingalls Shipbuilding spent four days in the Gulf of Mexico operating the 11th San Antonio-class ship and demonstrating its systems. (Photo: Lance Davis/HII)

Amphibious transport dock Portland (LPD 27) being built by Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division has completed her first set of sea trials. Ingalls’ test and trials team spent four days in the Gulf of Mexico operating the 11th San Antonio-class ship and


China Denounces US S.China Sea Naval Transit

The USS Stethem conducts underway replenishment at sea, somewhere in the South China Sea (CREDIT USN)

The United States has seriously damaged peace and stability in the South China Sea after a U.S. warship sailed near a disputed island in waters claimed by China, the Asian nation's defence ministry said on Monday.   The ministry resolutely opposes the entry of U.S


ABS Wins Royal Canadian Navy Service Contract

Photo: ABS

Canadian Department of National Defense selects ABS for classification and certification services for its entire non-combatant fleet.    ABS, a provider of classification and technical services to the marine and offshore industries


US Navy Orders First ‘Flight III’ Destroyer

HII’s Ingalls Shipbuilding division will build Jack H. Lucas (DDG 125), the first “Flight III” ship in the U.S. Navy’s Arleigh Burke class of destroyers. (HII rendering)

Huntington Ingalls Industries (HII) said its Ingalls Shipbuilding division has received a contract modification to incorporate the “Flight III” upgrades to the Arleigh Burke-class (DDG 51) guided missile destroyer Jack H. Lucas (DDG 125)


Lenders Ramp up Pressure on 'Toxic' Shipping Debt

Financiers are set to take a tougher stance towards distressed shipping loans including more enforcement action to recoup funds, while capital on offer to the industry is expected to shrink further, a leading transport survey showed on Wednesday.  


India to Boost Cruise Tourism

Indian Shipping Minister Nitin Gadkari addressing the workshop on “Action Plan for Development of Cruise Tourism in India”, in New Delhi on June 27, 2017. Photo: PIB

 Indian Minister of Shipping Nitin Gadkari  has said that Cruise Tourism is one of the fastest growing components of the leisure industry worldwide, and  can be a major growth driver for the Indian economy by generating huge employment opportunities.    


Austal Wins USD 584.2 million US Navy Contract

LCS Class. Photo: Austal

 Australian shipbuilder Austal has won a  $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported.  The contract includes associated LCS class services and related material and integrated data environment support


Webb Institute Class of 2017 Turns Tassels

Webb Institute’s Class of 2017 throwing their caps in the air after the 121st Commencement Ceremony. (Photo: Jonathan Wang, Webb Institute student, Class of 2020)

On Saturday, June 17, 2017, Webb Institute awarded 19 Bachelor of Science degrees at its 121st Commencement Ceremony. Each graduating student received a dual degree in Naval Architecture and Marine Engineering.    Webb’s commencement ceremony opened with the singing of the


CSA Awards Vessel Safety

Among those recognized, 65 vessels of Foss Maritime and its subsidiary companies were granted the 2016 Jones F. Devlin award for outstanding safety records. Pictured: Susan Hayman from Foss accepts the award. (Photo: Foss)

 The U.S. maritime industry publicly recognized the merchant mariners responsible for safe ship operations at the Annual Safety Awards Luncheon held on June 7, 2017. In all, 211 people, representing 53 companies and their subsidiaries attended the annual industry-sponsored event where 1






 
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