Car loss on burned ship in the Azores exceeds $400 million
The destroyed vehicles among the cargo on the burned ship that caught fire last week in the Atlantic Ocean may tally a loss of more than $400 million, according to an industry consulting firm. Volkswagen alone could have incurred as estimated loss of $155 million. The total value of the cargo on the Felicity Ace, the ship ablaze for several days off the coast of Portugal’s Azores Islands, is approximately $438 million, according to the Russell Group. The 650-foot long ship was built in 2005. Estimates of the loss are based on all vehicles on board the burned ship as total losses. About 4,000 Volkswagen Group vehicles were on board, including Audi, Bentley, Lamborghini, Porsche and VW. About 1,110 of
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