Car carrier fire

A fire on Felicity Ace off the coast of Portugal’s Azores Islands is expected to generate at least US$155 million in expected losses for Volkswagen, Porsche, Audi and Lamborghini vehicles on board the vessel, according to analysis by Russell, a risk solutions company. The vessel was carrying more than 4,000 cars. The total dollar value of goods is estimated to be $438 million and of that an estimated $401 million was cars and goods vehicles according to Russell’s analysis. Felicity Ace was travelling from Emden, Germany, where Volkswagen have a large factory, to Davisville in Rhode Island, US.