It may be slightly delayed

BREAKING: A giant cargo ship "Felicity Ace" is on fire in the middle of the Atlantic Ocean.

It's carrying a cargo of Porsche and VW automobiles.

The crew safely abandoned ship in lifeboats. Under maritime law the ship is now "finders keepers." pic.twitter.com/gHLqHncrOi

— Retro Tech Noir (@RetroTechNoir) February 17, 2022

Who wants to go Somali with me for a new 911?

Any update?

Latest news

transporting approximately 2,500 cars, including roughly 1,100 Porsches

"Customers affected by the incident are being contacted by their dealer."

https://www.autoblog.com/amp/2022/02/17/felicity-ace-cargo-ship-fire-porsche-volkswagen-cars/

thats about the most ridiculous way to dumb down salvage rights i have ever seen

Just think if Rams were built overseas. Makes you wonder.

Sea Speed said:

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thats about the most ridiculous way to dumb down salvage rights i have ever seen

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Hey, that's right! don't you have a ship? I'd like my 911 rare to medium rare if possible.

Incoming February fire sales.

"Ran when parked "

Sea Speed said:

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thats about the most ridiculous way to dumb down salvage rights i have ever seen

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True, but there's a kernel of truth in there right? If (big if) a crew were to get that vessel to port, they are entitled to the value of the vessel?

No joke, my wife was getting her Audi end of lease inspection done yesterday to buy the car. While there she was talking to the rep about an inbound car and getting pricing on it. On the drive home he called and informed her that the car was at the bottom of the ocean (he told her the ship sank after the fire, not sure if that's true?). West Audi had 5 cars in the ship, their Porsche dealer had over 20, most custom builds.

There are several layers between a marine casualty and salvage rights, but yes, one potential outcome would be the salvor having a claim equal to the value of the cargo and vessel.

Here is a breakdown of the percentage the crew of the Cherry Valley received of a $1.75MM settlement from when they salvaged part of one of our space shuttles and the tug towing it. You can read about it in the book In Peril. Note that this represents 37% of the entire salvage award which was given to the crew, with the remaining going to the owner of Cherry Valley.

What percentage would Texas Direct get?

Dang, am 4th on waitlist to order a car. Was told it would be around June. I wonder if it will push to later.

Dang, that new Porsche stealership on fiddy9 and Sheppard gonna have to start selling used Corollas?

Huge insurance pay out and then get to charge higher prices for cars and blame the fire. They'll come out smelling like roses

Bentleys too!

🚘📉
Volkswagen Group estimated nearly 4,000 vehicles were on board, including 189 Bentleys. https://t.co/2AgUiYlRUl

— Ryan (@RyanMaue) February 18, 2022

I know someone that ordered a 911 GT3. It's all he's been talking about for over a year. I think he was supposed to take delivery Feb or March this year. Haven't heard from him this morning, but I wonder if his was on that ship!

If it is on the ship, this used car dealer has multiple 2022 911 GT3 at around double the MSRP

https://www.themarkmotors.com/cars-for-sale-boerne-tx?limit=40

TexAg2001 said:

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I know someone that ordered a 911 GT3. It's all he's been talking about for over a year. I think he was supposed to take delivery Feb or March this year. Haven't heard from him this morning, but I wonder if his was on that ship!

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The ETA of the Audi my wife was looking at was first week of March. So definitely possible.

As a Boxster owner, that story nearly made me cry when I saw it. I'd heard that there was already a two year wait for some cars.

I'd never part with it, but it makes me wonder what kind of stupid money I could get for mine.

If about 1/3 of the total vehicles were Porsches and Bentleys, I can easily see the average MSRP of the cars on that ship being $100k. With 4k cars on board, my Aggie math comes out to $400 million dollars. Holy crap. Someone is on the hook for a boatload (pun intended) of money.

TXTransplant said:

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As a Boxster owner, that story nearly made me cry when I saw it. I'd heard that there was already a two year wait for some cars.

I'd never part with it, but it makes me wonder what kind of stupid money I could get for mine.

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. Enough to buy a new one in 24 months when everything drops like a rock.

tk for tu juan said:

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If it is on the ship, this used car dealer has multiple 2022 911 GT3 at around double the MSRP

https://www.themarkmotors.com/cars-for-sale-boerne-tx?limit=40

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the markUPmotors, jesus

agracer said:

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TXTransplant said:

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As a Boxster owner, that story nearly made me cry when I saw it. I'd heard that there was already a two year wait for some cars.

I'd never part with it, but it makes me wonder what kind of stupid money I could get for mine.

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. Enough to buy a new one in 24 months when everything drops like a rock.

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Now you've got my curiosity. Why would we expect this to happen?

Aston 91 said:

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If about 1/3 of the total vehicles were Porsches and Bentleys, I can easily see the average MSRP of the cars on that ship being $100k. With 4k cars on board, my Aggie math comes out to $400 million dollars. Holy crap. Someone is on the hook for a boatload (pun intended) of money.

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Lloyds of London syndicates pretty much insure all the worldwide ship cargo. I attended some insurance meetings several years ago meeting with some reinsurers prior to COVID and they have a book they record all ship losses in down on the main floor..kind of an old school tradition thing. Pretty cool building.

Wow

Fun fact, the term A1 came from shipping and insurance and their classification society. The best built ships were classified as A1.

I dislike VWs and Porsches, but I really HATE waste. This is just a horrific waste. Kinda make me sick to my stomach.

As a Porsche fan and owner of 3 former Audis (A4, S4 & S7) and future owner of a Cayman or 911 this is kind of sad, especially for folks with cars on order with continued delays from COVID. I shared this with my work buddy that is picking up a used 2018 Panamera 4S tomorrow that he should try to flip it.

What did those audis become afterwards?

They transitioned. How dare you limit their manufacturer to what they were assigned at assembly!

I have a 2011 Taycan...I wonder if now is the time to sell it

Update: ship sunk

Well the Felicity Ace has sunk. https://t.co/ZodsrVcO8Z

— Zerin Dube (@SpeedSportLife) March 1, 2022

Galveston in 2 years: