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Cargo ship carrying 1,200 Jaguars and Land Rovers deliberately run aground [w/video]

A cargo ship carrying a load of new cars out of Southampton has run aground in the English Channel in between England and the Isle of Wight. The vessel apparently suffered some sort of failure just 45 minutes after leaving port that caused it to list heavily to the starboard side before the crew deliberately beached it on Bramble Bank to prevent the ship from capsizing altogether. The vessel, called the Hoegh Osaka, is a 590-foot car carrier weighing some 57,000 tons and registered in Singapore. Although several automakers (including Honda and Bentley) were reportedly looking into whether they had cars on board, the vessel is said to have been filled to approximately one-third its capacity, with 1,400 vehicles on board – including 1,200 Jaguar and Land Rover vehicles, 65 Mini models and one Rolls-Royce Wraith. 70 to 80 pieces of construction equipment were also said to be on board. The Hoegh Osaka was en route from the southern British port of Southampton to Bremerhaven, Germany. Fortunately, no major injuries have been reported. The crew was mostly airlifted by helicopter off of the beached ship, with two crew members evacuated by lifeboat. One crew member reportedly jumped over 25 feet off the ship into the water before being immediately retrieved by rescue workers. According to the Daily Mail, two crew members were treated for non-life-threatening injuries, including a broken leg. It may take several days, if not longer, to extract the vessel from the sand bank and ascertain the damage to the ship and its cargo. An early attempt to free the ship with tugboats failed, meaning that the Maritime and Coastguard Agency may have to wait until more favorable high tides to try again before towing the ship back into the port. Bramble Bank, where the vessel was run aground, is a well-known obstacle to maritime navigators. The Queen Elizabeth 2 ran aground there in November 2008 with 1,700 passengers on board, but was quickly freed by four tugboats and was able to continue on its way. Two local yacht clubs also play a cricket match there every year at low tide. The vessel's operator, Hoegh Autoliners, praised the skill and quick thinking of the crew in acting to prevent the ship's capsizing by running her aground on the soft, sandy shoal. Watch the clip below for aerial footage of the beached ship, courtesy of the BBC. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

BMW warns profits will fall, plans $13.6 billion in cost-cutting

FRANKFURT, Germany — BMW said Wednesday that profits in 2019 will be "well below" last year's, and it will cut 12 billion euros ($13.6 billion) in costs by the end of 2022 to offset spending on new technology. The company said profits would be eroded by higher raw materials prices, the costs of compliance with tougher emissions requirements and unfavorable shifts in currency exchange rates. The Munich-based automaker also faces increased uncertainty due to international trade conflicts that could lead to higher tariffs. "Depending on how conditions develop, our guidance may be subject to additional risks; in particular, the risk of a no-deal Brexit and ongoing developments in international trade policy," said Chief Financial Officer Nicolas Peter. The company forecast a profit margin of 6 to 8 percent for its automotive business, short of the long-term strategic target of 8 to 10 percent, which it said still "remains the ambition" for the company if given "a stable business environment." BMW said it had no plans for layoffs even as it outlined cost saving measures that include dropping half of its engine variants as it seeks to reduce product complexity. The BMW, Mini and Rolls-Royce brands are to get a single sales division. Peter said that given the headwinds to earnings, "we began to introduce countermeasures at an early stage and have taken a number of far-reaching decisions." The company said the measures were needed "to offset the ongoing high level of upfront expenditure required to embrace the mobility of the future." Automakers around the world have faced heavy up-front costs for technology expected to change how people get from one place to another in the next decade. Those include electric cars and renting cars through smartphone apps. Yet the returns from such investments remain uncertain and auto companies face competition from tech firms such as Uber and Waymo. BMW made 7.2 billion euros ($8.2 billion) in net profit last year, down 17 percent from 2017, when it booked a gain of $1 billion from U.S. tax changes. The company faced headwinds from increased tariffs on vehicles exported to China from the United States. It also suffered from turmoil on the German auto market when companies faced bottlenecks getting cars certified for new emissions rules. BMW faces uncertainty from U.S.-China trade tensions that could result in new tariffs if talks do not result in an agreement. U.S.

Navigating the road time forgot in a Rolls-Royce Cullinan

The Rolls-Royce Cullinan glides evenly over the rutted single-lane dirt road, barely unsettling its passengers. Nobody is speaking in the lush cabin, not even my normally chatty 7-year-old.  All eyes are turned to the Delaware River gliding by, a dozen feet away, through a skim of skeletal hardwood trees. There’s no sign of humanity or habitation. ItÂ’s almost a scene in a movie. The Last of the Mohicans, perhaps.  Today we are exploring the Old Mine Road, and it is making us think of ghosts. Its 104 miles of asphalt and dirt make up one of the oldest continuously-used roads in America, stretching from New YorkÂ’s Catskills to the Pennsylvania Delaware Water Gap. The Lenape are thought to have first threaded a path here in the 1300s.  It is also a pathway wending its way through the NortheastÂ’s violent history, from bloody skirmishes between the original Native American inhabitants and European settlers to the Americans and Brits in the Revolutionary War. Little wonder that out here in the quiet, that history — and those ghosts — feel close. Amazingly, the 40-mile section in New Jersey that follows the eastern banks of the Delaware looks much like it did a hundred years ago. There are million-dollar views, but as part of the Delaware recreation area, no development is allowed.  Instead of the gated McMansions youÂ’d expect less than 1.5 hours from New York City, we are greeted by silent forest and twin lanes of bumpy or shattered asphalt. ThereÂ’s a section of dirt and gravel, narrowing to a single lane. Easy to imagine hundreds of years of horses and mules stamping down the thin path.  It is early spring and like everyone else, we have cabin fever. My wife, son and mother-in-law are sheltering-in-place at our country house in the Poconos. America is locked into a struggle with an invisible enemy. It seems a good time to get some historical perspective. If our ancestors lived and endured under harsh conditions, so can we.  There is nothing inherently unsafe or socially unacceptable about taking a short road trip on a virtually unused road, so we pack a lunch of cold pizza and snacks, and pile into the leather-bound, environmentally-controlled cocoon of the Rolls. We make our way to Kingston, N.Y., where the road begins. IÂ’m finally going to drive the entirety of the Old Mine Road.   Our Barney-purple Cullinan is a rolling sanctuary, a movable fortress of social isolation.