An deserted ship that caught hearth within the mid-Atlantic final week was carrying $401m (£295m) price of automobiles, together with Porsche, Audi, Bentley and Lamborghini fashions, an insurance coverage estimate has revealed.

Felicity Ace, a specialist cargo ship carrying greater than 4,000 automobiles, caught alight close to the Azores on Wednesday night. The vessel’s 22 crew members had been evacuated however the hearth continued to burn for a number of days, fuelled by lithium-ion batteries in electrical automobiles on board.

Insurance coverage specialists at Russell Group mentioned on Monday they estimated that $438m of products had been on the ship, together with an estimated $401m of automobiles and items automobiles.

Suki Basi, the group’s managing director, mentioned the incident would end in losses of a minimum of $155m for Volkswagen, which owns Porsche, Audi, Bentley and Lamborghini.

“These figures confirmed as soon as once more the precariousness of world provide chains,” Basi mentioned. “The incident comes at a foul time for international carmakers, who’re in the course of a provide chain disaster sourcing semiconductors, leading to new delays for brand new automobiles. An occasion like this is not going to do an important deal in instilling belief with shoppers.”

The ship’s operator, MOL Ship Administration (Singapore), mentioned on Monday that the vessel was “nonetheless assumed to stay on hearth south of the Azores, drifting additional away from the islands”.

It mentioned two firefighting tugboats had been because of arrive on the website of the ship on Monday and would “begin spraying water to Felicity Ace along with the patrol boat with the preliminary salvage group onboard already on website to chill down the warmth from the vessel”.

The corporate mentioned the ship remained secure and was not leaking oil. One other salvage craft with firefighting tools is because of arrive from Rotterdam on 26 February.

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João Mendes Cabeças, the captain of the closest port within the Azorean island of Faial, advised Reuters over the weekend that lithium-ion batteries within the electrical automobiles had been “conserving the fireplace alive”, including that specialist tools was required to extinguish it. It was not clear whether or not the batteries sparked the fireplace.

Felicity Ace was travelling from Emden, Germany, the place Volkswagen has a manufacturing unit, to Davisville, Rhode Island, in accordance with the web site MarineTraffic.

VW has not commented on what number of of its automobiles had been on the ships. The automotive fanatic web site The Drive reported that the ship was carrying 189 Bentleys.

Ship manifests present that on a earlier voyage final month it carried 21 Lamborghinis.