German Company’s Million Missing Shipping Containers Puzzles Prosecutors

MUNICH, May 17 (Reuters) - 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 … [Read more...]

MV Ever Smart Arrives in Los Angeles with Toppled Containers

The MV Ever Smart arrived at the port of Los Angeles on Wednesday showing clear evidence of the dozens of containers which were lost from the vessel during its voyage across the Pacific.  As gCaptain reported previously, the British-flagged Ever Smart lost 42 containers overboard approximately 700nm east of Japan on October 30, 2017. The UK MAIB has launched … [Read more...]

Interview: Spinnaker CEO Tim Britton Talks About Container Market, Megaships, and Hanjin’s Collapse

By Gibraltar Shipping Tim Britton is CEO of Spinnaker, specialised in the leasing, sale of new and used containers for shipping and storage purposes. Tim talks to us about how Spinnaker has over 60 shipping depots strategically located around the world, satisfying the demand for containers at any point of the supply chain. Please tell us about your main responsibilities … [Read more...]

Container Tracking Device Use Soars

By Gavin van Marle (The Loadstar) Declining asset costs and a variety of external factors are driving the container shipping industry into increasing use of container tracking and monitoring devices. Speaking to The Loadstar on the sidelines of the recent TOC Container Supply Chain conference in Hamburg, Mike Dempsey, vice president of containers and ports at mobile asset … [Read more...]

Venezuela Piles Up $1 Billion Bill for Late Shipping Containers

By Corina Pons and Jonathan Saul PUERTO CABELLO, Venezuela/LONDON, April 22 (Reuters) - Venezuelan state agencies have run up close to $1 billion in debts with shipping firms due to delays in returning containers, potentially boosting the cost of importing staple goods as the country struggles with product shortages and an economic crisis. The agencies have held … [Read more...]