Cocaine with street value of €295m found floating in ocean

A shipment of cocaine floats on the surface of the Pacific Ocean with Royal New Zealand Navy vessel HMNZS Manawanui behind (NZ Police/AP)

Cocaine with a street value of about NZ$500m (€295m) has been found floating in a remote area of the Pacific Ocean.

It is thought to have been dropped there by an international drug-smuggling syndicate.