Burnt-Out Ship Carrying 4,000 Vehicles Sinks, Costing VW At Least $155 Million

McGruber shares a report from AutoNews:
The freight ship that ignited in the Atlantic while carrying roughly 4,000 Volkswagen Group automobiles to the U.S. has actually sunk in spite of efforts to tow it to safety. The Felicity Ace sank 220 nautical miles off the coast of Portugals Azores Islands around 9 a.m. regional time on Tuesday after being battered by waves and leaning 45 degrees to its starboard side, the ships operator stated. Joao Mendes Cabecas, the captain of the closest port on the island of Faial, told Reuters the Panama-flagged Felicity Ace had sunk as efforts to tow it started due to structural issues triggered by the fire and rough seas.
Volkswagen had VW, Porsche, Audi, Bentley and Lamborghini-branded designs on the vessel, which was on its way to Rhode Island from Germanys Emden port when the fire broke out on Feb. 16. In a forecast presuming all cars would be lost, the risk-modeling company Russell Group last week estimated that the occurrence could cost the automaker at least $155 million.

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