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A cargo ship that was crippled when it caught fire near the Azores nearly two weeks ago has sunk in the Atlantic Ocean.
The Felicity Ace was being towed to land when it began to list to starboard in rough seas about 250 miles off the Portuguese island chain and took on water in rough seas, according to the ship’s manager.
The Portuguese Navy has confirmed that it sank in a location outside Portuguese territorial waters, more than two miles deep.
About 4,000 people, mostly Volkswagen Group brands including Porsche and Lamborghini, were on board and being shipped from Germany to the United States when the ship caught fire for as yet unconfirmed reasons, although some suspected it could have been caused by a battery in one of the electric motors. vehicles in the shipment.
Several customers had posted on social media that they had been told their cars were on the ship and their orders would need to be rescheduled for production.
The Portuguese Navy said it was monitoring the situation for any signs of a major oil spill, but had only seen a small amount of wreckage and an oil slick so far.
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Volkswagen confirmed the insurance covered the loss, which Wall Street Journal experts said could be as high as $155 million for the automaker, while the loss of all cargo on board was valued at $438 million.
The Associated Press contributed to this report