Public Accounting News

Maersk Line, Limited (MLL), a U.S. subsidiary of Danish shipping giant A.P. Moller - Maersk, has resolved a sexual assault and harassment suit filed by former U.S. Merchant Maritime Academy (USMMA) cadet Hope Hicks.Hicks shook the international maritime community in 2021 under the moniker "Midshipman-X" when she publicly described how she was raped by her superior officer while serving as an engine cadet aboard the Maersk cargo ship Alliance Fairfax in 2019.In June, Hicks revealed…

Dredging contractor Callan Marine announced it has hired Matt Sitka as the Galveston, Texas-based company's new chief financial officer.A 15-year veteran of the industrial services, dredging, and marine construction industry, Sitka, CPA, MBA, brings experience in the petrochemical, refining, power generation, marine, public and government industries, in addition to four years in public accounting.“We are thrilled to have Matt on our team,” said Maxie McGuire, President of Callan Marine.

Crowley Maritime Corporation recently awarded Thomas B. Crowley Sr. Memorial Scholarships to four seniors studying at the University of Washington’s (UW) Michael G. Foster School of Business. The students, Joshua Banks, Kainen Bell, Maninder Grewal and Xuan Liao, were each chosen to receive a $2,500 scholarship for the 2015-2016 academic year based on their demonstrated financial need, community involvement and leadership skills. Joshua Banks, a two-time Crowley scholarship recipient is currently studying finance and entrepreneurship at UW.

Genco Shipping & Trading Limited (OTCBB: GSKNF) has announced that John C. Wobensmith, the company's CFO has been appointed as President effective December 19, 2014. He succeeds Robert Gerald Buchanan, who will retire as of the same date. Buchanan has served as President of Genco since June 2005. "John's appointment as President represents the significant contributions he has made to Genco since joining the Company close to a decade ago as well as his deep knowledge of the drybulk industry," said Peter C. Georgiopoulos, Chairman of the Board. "John has played a critical role in strengthening Genco's prospects and I am confident that under his leadership the Company is poised to both further strengthen its standing in the drybulk industry and create long-term shareholder value.

DHT Holdings, Inc. announced the results of its 2014 Annual Meeting of Shareholders. The Annual Meeting was held on Wednesday, June 11, 2014. At the Annual Meeting, the shareholders voted to elect Robert N. Cowen as a Class I Director for a term of three years and Einar Michael Steimler as a Class II Director for a term of two years, to approve the 2014 Incentive Compensation Plan and to ratify the selection of Deloitte AS as DHT's independent registered public accounting firm for the fiscal year ending December 31, 2014.

Financial reporting is a sobering issue. Creative accounting, “cooking the books,” earnings manipulations and other accounting shenanigans have been around as long as folks have had income, paid bills, taxes or sought investors for their ventures. With intent to defraud for economic gain and financial crimes, came the passage into law of the Sarbanes-Oxley Act of 2002 (Sarbox or SOX) that made the consequences of such behavior more than just a slap on the wrist. The 2000’s were to some companies public and private, financial reporting’s wild, wild, west.

Northern Marine, a builder of long-range expedition yachts, luxury craft and commercial boats, has announced the expansion of its management team. Jan Kallshian, Bryan Kay, Randy Stoneman and Mark Allred bring their talents and experience in business, finance, design and boatbuilding to the Anacortes, Washington-based company. New company CFO Jan Kallshian has been a self-employed business and financial consultant for 20 years. Prior to this, he was controller for Northwest Marine Technology for 10 years and worked in public accounting for seven years. Kallshian also serves as an active volunteer for Habitat For Humanity. In his position as Northern Marine's controller, Bryan Kay manages the company's accounting operations.

Seanergy Maritime Holdings Corp. has announced the results of the annual meeting of its shareholders held yesterday at the company's executive offices. 2) The appointment of PricewaterhouseCoopers S.A. 3) The amendment of the company's Amended and Restated Articles of Incorporation to increase the aggregate number of shares of capital stock that the Company is authorized to issue to 525,000,000, consisting of 25,000,000 registered preferred shares, par value $0.0001 per share and 500,000,000 registered shares of common stock, par value $0.0001 per share.

Horizon Lines, Inc. (NYSE: HRZ) announced that shareholders at the company's annual meeting today re-elected two Class III directors and ratified the appointment of Horizon Lines' public accounting firm Ernst & Young LLP. During the annual meeting, shareholders re-elected Class III directors Thomas P. Storrs and Bobby J. Griffin. Mr. Storrs has served as a director for the company since June 2007, and Mr. Griffin has served since June 2010. Additionally, shareholders ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 25, 2011. Shareholders also provided a non-binding…

Horizon Lines, Inc. (NYSE: HRZ) announced that shareholders at the company's annual meeting yesterday elected three Class II directors and ratified the appointment of Horizon Lines' public accounting firm Ernst & Young LLP. Additionally, the Board of Directors re-elected Chief Executive Officer Charles G. Raymond as its Chairman. During the annual meeting, shareholders re-elected Class II directors Vern Clark and William J. Flynn, and elected Stephen H. Fraser as a new Class II director to succeed Dan A. Colussy, who retired from the board.

Resolve Marine Group of Fort Lauderdale, one of the US’ major Marine Emergency Response, Salvage and Fire Fighting experts, is to develop its expertise on a more global basis and has recruited a number of key personnel into its company to achieve this aim. Bob Umbdenstock, marine industry executive and consultant with international management experience in heavy salvage, wreck removal and environmental protection, has joined the company to develop and market the emergency response capabilities Resolve offers to ship owners and managers wishing to comply with statutory planning requirements…

Tidewater announced the election of Cindy B. Taylor to its Board of Directors for a term expiring in July 2008. Mrs. Taylor comes to Tidewater with a distinguished and successful career in the oil and gas industry. Since May 2006, Mrs. Taylor has served as President and CEO of Oil States International, Inc., a diversified solutions provider for the oil and gas industry. From May 2000 through May 2006, Mrs. Taylor was a Senior Vice President, Chief Financial Officer and Treasurer of Oil States. Taylor previously held executive positions with a public drilling company and various management positions in public accounting. Taylor earned her Bachelor of Business Administration (B.B.A.) degree from Texas A&M and is a Certified Public Accountant.

Trico Marine Services, Inc. announced that the Company's independent registered public accounting firm reissued its report on the Company's financial statements for the year ended December 31, 2003 with a going concern explanatory paragraph in the Company's amendment to its Form 10-K for the fiscal year ended December 31, 2003. The Company originally filed its 2003 Form 10-K on March 15, 2004 and filed the Form 10-K amendment on August 9, 2004 in order to respond to comments received from the staff of the Securities and Exchange Commission regarding the classification of indebtedness under the Company's Norwegian revolving credit facility. Due to the Company's 10-K amendment, the Company's independent registered public accounting firm was required to reissue its 2003 audit report.

The U.S. Navy opened a formal inquiry on Monday into the ramming of a Japanese trawler by a nuclear submarine, trying to answer questions about an accident that killed nine people and marred America’s relationship with Japan. The navy’s Court of Inquiry could also lead to a court martial for three or more officers of the USS Greeneville who will be asked to explain how they failed to notice the 190-ft. (58-m) fishing boat before surfacing off Diamond Head near Honolulu. The fast-attack sub is equipped with state-of-the-art sonar, and published reports have said the Greeneville’s crew was aware of a ship in the vicinity before surfacing. The Greeneville was practicing emergency maneuvers on Feb.