Review of assurance reports from service organisations The Committee of Sponsoring Organisations of the Treadway Commission COSO internal control framework indicates that management should document the relevant internal control systems of their […]. It also put in some mortgage bonds that its own mortgage department had created but could not sell, from the DBALT series. Tugs manager to release her at around UTC, turned her around and took her to Projensdorf, where according to AIS, she was moored […]. Spain and Italy however account for a tenth of its European private and corporate banking business.
Alphabulk, part of AXS Marine, is warning dry bulk is a long way away from being a healthy investment. Troops have been deployed by the Dutch Ministry of Defence to help in the cleanup operations in the wake of the giant boxship spilling some containers into the North Sea earlier this week, with local politicians warning of an environmental catastrophe on local beaches. Some 35 boxes washed up on a pair of Dutch […].
The crew of the containership Yantian Express has been evacuated as the container fire continues to burn on board the ship in the North Atlantica, Hapag-Lloyd said in an update on Sunday.
The fire started in one container on January 3rd and has since spread to other containers. Due to bad weather conditions, the fire […].
With his comments in an address to 60, people in St. S Coast Guard said it received a report at 8: The vessel is blocking the navigation channel, which has […]. The first contract to begin dredging the Port of Corpus Christi ship channel to make room for fully-loaded supertankers has been awarded in what in seen as milestone moment for the future of U.
A former employee who posted a critical review of New York oil barge operator Bouchard Transportation is about to find out. So far, Bouchard is winning. A California judge in June sided with […].
Iran sees the presence of U. A fire has broke out aboard a Hapag-Lloyd containership in the North Atlantic off the east coast of Canada. In a statement posted to its website, Hapag-Lloyd said the fire started January 3 in one container on the deck of the Yantian Express and has spread to additional containers.
Efforts to extinguish the fire were […]. The Dutch coastguard said a criminal investigation had been […]. Less than three months before Britain leaves the EU on March […]. The announcement coincides with the fund's NOK million loss on speculation in bunker derivatives. Wednesday, a container caught fire on a Hapag-Lloyd vessel, the flames spread to several other containers on the ship. Fire-fighting activities were launched immediately, and everyone on board are unharmed, writes the carrier in a press release.
New Norwegian tax laws taking effect this year have made the crude oil company move its two CEOs to Singapore. Support for and interest in funding entrepreneurial companies in shipping grew significantly in , states a new report from Rainmaking and Danish Ship Finance.
The report names several of the new, important digital players. Hazardous chemicals have washed ashore on a beach in the Netherlands after an MSC container ship lost containers in a storm Wednesday. Dutch soldiers are aiding the clean up. Despite massive resistance from Faroe Petroleum's board of directors, the interested party, DNO, has acquired around 43 percent of the former's equity.
However, that is far from enough to secure a takeover. Scrappings and deletions of container vessels dropped to a seven-year low last year.
The total fleet grew 5. Three things will remain central for Finnish Wärtsilä in the coming year. Collaborations on new digital solutions are essential in order to comply with environmental requirements, says Wärtsilä.
The US and China will reopen trade negotiations next week, when a US trade delegation will visit China, unnamed sources tell Bloomberg. A cargo ship loaded with 4, tonnes of steel and construction equipment required to build a new Antarctic wharf has arrived at British Antarctic Survey BAS 's Rothera Research Station.
Staff awaiting its arrival cheered as the DS Wisconsin pulled alongside…. Jinhui Shipping and Transportation Limited, one of the world's largest Supramax owners, informed that its subsisidary Jinzhou Marine has decided to dispose of a Supramax bulk carrier. Jinzhou Marine signed a memorandum of agreement with the buyer for the disposal of the 50….
Low prices, abundant supply and an aggressive shift towards cleaner gas for energy generation are creating strong demand for LNG, not just from large buyers, but also from small importers, said Drewry. In its market opinion report, Shefali Shokeen…. Switzerland-based global container shipping and a company MSC Mediterranean Shipping Company said that it is directly taking over more of the clean-up of German and Dutch waters and beaches, following the recent container spill from the cargo….
As the maritime industry continues to build on its efforts to reduce emissions to air…. Vessel traffic in the Lower Mississippi River near New Orleans has come to a stop after a foot bulk carrier ran aground close to mile marker 3. The navigation channel has been closed and more than 50 vessels are waiting in queue to transit in or out of the river….
This was the first time these navies have combined like this as they tested their specialist anti-submarine warfare…. The ship blocked Canal traffic. Tugs manager to release her at around UTC, turned her around and took her to Projensdorf, where according to AIS, she was moored […]. Spill was reported to authorities at HK time Jan 6, […]. Both ships moved generally, in southern direction, most probably in an attempt to find best weather conditions, permitting more or less safe firefighting.
Extent of fire — how many containers and rows are on fire; How many […]. Both ships sustained hull damages, reportedly above waterline, and remained anchored, for survey and investigation. FleetMon Vessel Risk Rating: As of UTC the […]. All personnel were evacuated as a precaution, fire understood to be extinguished, extent of damages yet unknown. Fire reportedly, was caused by power generator. Platform was to be moved to Egypt, but probably, departure […].
Fire erupted on board of cargo ship anchored at Pendik, Istanbul area, Marmara sea, early in the morning Jan 4. Fire according to available video and photos, is a major one, with superstructure engulfed in flames. As of UTC fire understood to be still on, firefighting still continuing. Here are the most read stories of the previous week.
A fire broke out in one container on the deck of Hapag-Lloyd's containership Yantian Express. Hadaroy, Fjord 1's first of the Havyard design electric ferries, has entered service.
Drewry expects an increase in ordering of small LNG carriers in and beyond. Shipping will continue to attract investors in if it fulfills its ESG responsibilities. London arbitrators ruled against China Ocean Industry Group over delayed construction of four ships. In close collaboration with local authorities, MSC is now working with a number of salvage companies to add momentum to the quick response started on […]. It concluded that even as the market was collapsing in , and its top global CDO trader was deriding the CDO market and betting against some of the mortgage bonds in its CDOs, Deutsche bank continued to churn out bad CDO products to investors.
It also put in some mortgage bonds that its own mortgage department had created but could not sell, from the DBALT series. The CDO was then aggressively marketed as a good product, with most of it being described as having A level ratings.
By the entire CDO was almost worthless and the investors including Deutsche Bank itself had lost most of their money. Greg Lippmann, head of global CDO trading, was betting against the CDO market, with approval of management, even as Deutsche was continuing to churn out product. He was one of the first traders to foresee the bubble in the CDO market as well as the tremendous potential that CDS offered in this. As regards the Gemstone VII deal, even as Deutsche was creating and selling it to investors, Lippman emailed colleagues that it 'blew', and he called parts of it 'crap' and 'pigs' and advised some of his clients to bet against the mortgage securities it was made of.
Lippman called the CDO market a 'ponzi scheme', but also tried to conceal some of his views from certain other parties because the bank was trying to sell the products he was calling 'crap'.
Lippman's group made money off of these bets, even as Deutsche overall lost money on the CDO market. On 3 January it was reported that Deutsche Bank would settle a lawsuit brought by US shareholders, who had accused the bank of bundling and selling bad real estate loans before the downturn. Deutsche had become the biggest operator in this market, which were a form of credit derivative designed to behave like the most senior tranche of a CDO.
The risk of Deutsche taking large losses if the collateral was wiped out in a crisis was called the gap option. Simpson claims that traders were not simply understating the gap option but actively mismarking the value of their trades. Deutsche Bank has a negligible exposure to Greece. Spain and Italy however account for a tenth of its European private and corporate banking business. It needs to get its common equity tier-1 capital ratio up to As of September it stands at In June , the then co-CEOs, Jürgen Fitschen and Anshu Jain , both offered their resignations  to the bank's supervisory board, which were accepted.
Jain's resignation took effect in June , but he provided consultancy to the bank until January Fitschen continued as joint CEO until May In November , the bank had their Frankfurt offices raided by police in connection with ongoing investigations around the Panama papers and money laundering.
Deutsche Bank released a statement confirming it would "cooperate closely with prosecutors". Instead the board was represented by a speaker of the board. The CIB comprises the below six units. In , the bank created the world-known blue logo "Slash in a Square" — designed by Anton Stankowski and intended to represent growth within a risk-controlled framework. Deutsche Bank in general as well as specific employees have frequently figured in controversies and allegations of deceitful behavior or illegal transactions.
Six former employees were accused of being involved in a major tax fraud deal with CO 2 emission certificates, and most of them were subsequently convicted.
Deutsche Bank itself was not convicted due to an absence of corporate liability laws in Germany. From as late as to at least , the bank engaged in covert espionage on its critics. The bank has admitted to episodes of spying in and directed by its corporate security department, although characterizing them as "isolated". According to the Wall Street Journal, the bank's legal department was involved in the scheme along with its corporate security department.
The Cleary firm has concluded its investigation and submitted its report, which however has not been made public. The plan was allegedly cancelled after the intern was hired but before she started work.
In May , Deutsche Bank informed the public that the executive management had learned about possible violations which occurred in past years of the bank's internal procedures or legal requirements in connection with activities involving the bank's corporate security department. The principal findings by the law firm, published in July ,  are as follows: Four incidents that raise legal issues such as data protection or privacy concerns have been identified.
In all incidents, the activities arose out of certain mandates performed by external service providers on behalf of the Bank's Corporate Security Department. The incidents were isolated and no systemic misbehaviour has been found. And there is no indication that present members of the Management Board have been involved in any activity that raise legal issues or have had any knowledge of such activities.
BaFin found deficiencies in operations within Deutsche Bank's security unit in Germany but found no systemic misconduct by the bank. The company also pleaded guilty to wire fraud, acknowledging that at least 29 employees had engaged in illegal activity. It will be required to dismiss all employees who were involved with the fraudulent transactions.
In a Libor first, Deutsche Bank will be required to install an independent monitor. One division at Deutsche Bank had a culture of generating profits without proper regard to the integrity of the market. This wasn't limited to a few individuals but, on certain desks, it appeared deeply ingrained.
Department of Justice over its sale and pooling of toxic mortgage securities in the years leading up to the financial crisis. At the time of the agreement, Deutsche Bank was still facing investigations into the alleged manipulation of foreign exchange rates, suspicious equities trades in Russia, as well as alleged violations of U.
In addition to the payment, the bank will install an independent monitor, fire six employees who were involved in the incident, and ban three other employees from any work involving the bank's US-based operations.
From Wikipedia, the free encyclopedia. Not to be confused with Deutsche Bundesbank or Deutsche Postbank. Financial crisis of — and European debt crisis.
Financial crisis of — Banks portal Companies portal. Amid Losses and Lack of Direction". The New York Times. Retrieved 8 April Retrieved 16 March Retrieved 26 May The Nazi Dictatorship and the Deutsche Bank. Retrieved 11 July Rines, George Edwin, ed. Retrieved 28 January Archived from the original on 8 September Retrieved 17 August Cambridge University Press, , pp.
Retrieved 12 December International Business Times UK. Archived from the original on 12 August Retrieved 17 December Archived from the original on 20 July Archived from the original on 9 November Days before taking office, Mr Trump said Russia had never had any 'levarage' over him".
Archived from the original on 14 December Archived from the original on 17 July Archived from the original on 18 October Archived from the original on 15 October The Las Vegas News. Retrieved 17 May Archived from the original PDF on 5 May Show of strength or a fiction? The Disastrous Consequences of a Euro Crash". Archived from the original on 26 June Retrieved 26 June Retrieved 27 January Archived from the original on 22 June Retrieved 7 June Retrieved 28 March Retrieved 29 November Retrieved 19 November Christian Sewing wird Chef der Deutschen Bank".
Retrieved 9 April