Fire of the ship transporting luxurious cars: estimate of the cost of the losses

The fire that broke out on 16 February 2022 off the coast of the Portuguese archipelago of the Azores, may have caused enormous material damage.

The Felicity Ace was on its way to the United States from Germany with nearly 4 000 luxury vehicles. The cargo included Porsches, Lamborghinis, Bentleys and Audis from the Volkswagen Group's factories.

According to the Russell Group consulting firm, the total value of the goods aboard is estimated at 438 million USD, 401 million USD of which involved vehicles. Volkswagen alone could incur 155 million USD in losses.

According to Skytek, the overall losses are likely to exceed 500 million USD.

As a reminder, the 22 crew members were evacuated on the same day of the fire.