Managers of insolvent P&R Group are being investigated after it was discovered the investment firm sold nearly one million more shipping containers than it owned, the Munich prosecutors' office said on Thursday.Once the world's biggest lessor of shipping containers, P&R sells containers to investors and its sister company in Switzerland rents them out to shipping companies.
Two floating docks have completed their 26-day voyage across the North Atlantic to Damen Shiprepair Curaçao (DSCu) in the southern Caribbean.The larger of the two is a Panamax-class dock measuring 230 meters by 45 meters for tankers, containerships and other large vessels, while the smaller dock measures 108 meters by 23 meters for all kinds of tugs
Danish shipping giant A.P. Moller-Maersk will be the first in the world to trial artificial intelligence (AI) powered perception and situational awareness technology on a containership.Under a deal signed with Boston-based Sea Machines Robotics, Maersk will install computer vision
A cargo ship collided with a dock on the Parana River in Argentina's grains hub of Rosario on Wednesday, causing a slowdown of activity at terminal 6 in the port of General San Martín and raising soymeal prices."The southern pier of terminal 6 is operational, with difficulties on the barge docks due to the blockage caused by the ship that generated the accident," said Guillermo Wade
The full investigation report into the disappearance of Malaysia Airlines flight MH370 will be released after the latest search efforts are completed, officials said on Thursday, four years after the aircraft first went missing. Flight MH370, carrying 239 people onboard, became one of the world's greatest aviation mysteries when it disappeared on its way from Kuala Lumpur to Beijing on March 8
A U.S. guided missile destroyer's deadly collision with an oil tanker near Singapore in 2017 was caused by "a sudden turn" made by the warship that put it in the path of the commercial vessel, said a report by the Singapore government on Thursday. The collision on Aug. 21, which killed 10 sailors and was one of a handful of incidents in the Asia Pacific region involving U.S.
The U.S. Navy's newest next generation destroyer completed acceptance trials on February 1, marking a significant milestone for second Zumwalt-class stealth warship ahead of expected delivery in the coming months. The U.S. Navy's Board of Inspection and Survey reviewed the future USS Michael Monsoor (DDG 1001) and its crew during a series of demonstrations both pier side and underway
New Zealand military planes on Monday were scouring a section of the Pacific Ocean for more survivors from a missing ferry after eight people were rescued from a dingy that was adrift for days. The survivors, including an unconscious teenage girl, were safely transferred to a nearby fishing vessel late on Sunday, Defence Force Air Commodore Darryn Webb told Radio New Zealand.
The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of paperwork and bureaucracy.
The river Rhine in Germany was reopened to shipping on Wednesday after a fall in water levels, the German inland navigation authority said. The river was closed to inland shipping at the beginning of the week after rain and melting snow raised water levels. High water means vessels do not have enough space to sail under bridges
A British frigate escorted Russian ships through the English Channel on Monday, Britain’s defense ministry said, adding that it was the latest sign of an upsurge in Russian naval activity near UK waters over the festive period. Royal Navy frigate HMS Westminster was sent to monitor four Russian vessels over the weekend as they passed close to British waters, the Ministry of Defence (MoD) said
Chevron Corp Chief Executive John Watson is stepping down from his post atop the nation's second-largest oil company, according to a report from the Wall Street Journal. A successor for Watson, 60, who has been the company's chairman and chief executive since 2010, has not been formally approved by the company's board.