Felicity Ace, a giant cargo ship, was carrying luxury cars across the Atlantic Ocean on 16 Feb 2022 when a fire broke out in one of its cargo decks and quickly spread throughout the vessel.
Carrying a consignment from Germany to Rhode Island, USA, the ship was loaded with 1,100 brand new Porsche models, along with over 189 Bentleys, several Volkswagen vehicles, some Lamborghinis and Audis. Reportedly, there are approximately 4,000 automobiles on board.
After the fire broke out, the ship’s 22 crew members evacuated, leaving the vessel adrift near Portugal’s Azores Islands.
Though all the crew members were successfully rescued by the Portuguese Navy and Air Force, the fate of the thousands of cars onboard the now unmanned ship remains unclear.
Accidents like fire, capsizing, storms, and pirates are common risks most cargo ships have to contend with.
So, to make things easier, shipping companies and establishments opt for Marine Cargo Insurance!
A Marine Cargo Insurance policy protects a ship’s cargo against a large number of risks, including collision, overturning, theft, capsizing, as well as events like fire, explosions, and storms.
This policy is not exclusive to water-brone vehicles. It covers any physical damage to goods in ordinary course of transit via air, road, rail, sea, courier, registered post, or a combination of these modes.
International transports like Felicity Ace almost always require a Marine Cargo Insurance policy as per the seller’s agreement.
For much of a month, Felicity Ace was still on fire and astray in the Atlantic Ocean. The Lithium-ion batteries of the numerous electric vehicles on board were speculated to fuel the fire even further.
On 1 March 2022, the ship was reported to have capsized and sank, taking its precious cargo with it!
Learn more: What is Marine Cargo Insurance?