The cargo ship that caught fire last week near the Azores islands (Portugal) with some 4,000 luxury vehicles will cost Volkswagen AG dearly. The Rusell Group consultancy estimates that the German manufacturer will lose at least 155 million dollars (about 135 million euros) due to the incident. That represents almost 40% of the value of the cars that the ship was transporting, which the firm estimates at 405 million dollars (355 million euros). The boat carried, specifically, Porsche, Audi, Bentley and Lamborghini vehicles, all brands of the Volkswagen group. The crew, made up of 22 people, was able to be evacuated on time.
The fire, declared on Friday, February 18, began in the cargo hold of the ship, which had left Emden (Germany) on the 10th and was headed to Davisville (Rhode Island), when it was scheduled to arrive on February 23. The ship, named Felicity Ace, was carrying 4,000 cars. Volkswagen, which declined to comment on the matter, lost $155 million in product in that fire.
Mitsui OSK Lines Ltd, the operator of the vessel, explained on its website that two large tugboats had arrived from Gibraltar to the place where the vessel was located and were spraying the vessel with water to cool the hull. Two other rescue vessels, according to that statement, will arrive on Wednesday and February 26 to help in these tasks of extinguishing the fire of the ship, which is approximately the size of three football fields.
The fire has not yet been completely extinguished and the ship is still adrift in the Azores, but, according to the company, there is no oil leak and the ship remains stable. The company also maintained that it is cooperating with the rescue team with local authorities to find an “early solution” to this incident.
Russell Group is calculating the full value of the vehicles on board, so its projections assume that none of them will be salvageable. Although the number of vehicles of each brand that was on board has not been revealed, the New York Times reported that there were 1,100 Porsche vehicles and 189 Bentleys.
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