The operator of Felicity Ace, the ship transporting 1000’s of Porsches, Lamborghinis and different Volkswagen AG automobiles, stated Tuesday it assumes the automotive provider continues to be on hearth nearly a full week after the crew deserted ship.

Two massive tugboats are spraying the vessel, a unit of Mitsui OSK Strains Ltd. stated on a web site set as much as present updates on the incident. They may help with controlling the place of the ship earlier than an preliminary salvage group already on web site inspects the provider.

The hearth, first reported round noon in Europe on Feb. 16, could possibly be pricey for VW. Danger-modeling firm Russell Group estimated Monday there are $401 million value of automobiles on board, and that roughly $155 million value belong to the German producer. Anderson Financial Group, a Michigan-based marketing consultant, assumes a $334.6 million cargo loss.

Of VW’s nearly 4,000 automobiles aboard the ship, the fashions embrace Golf compact automobiles and ID.4 electrical crossovers, in keeping with an inner e-mail final week from the automaker’s U.S. operation. Extinguishing lithium-ion battery fires can take 1000’s of gallons of water — far more than what it takes to douse a typical combustion engine.

The reason for the hearth stays unclear. Two salvage craft with further firefighting and towing functionality are on their method to the ship, with one scheduled to reach Wednesday and the opposite on Feb. 26.

The Portuguese Navy stated that on Feb. 24 a group of specialists is anticipated to fly to the Felicity Ace on an air drive helicopter “to research the circumstances” for towing the ship. The vessel is at present 195 nautical miles south of the Azorean island of Faial, the navy stated in an announcement posted on its web site on Tuesday night.

The white smoke that may be seen blowing from the ship has “diminished significantly,” the navy stated.

{Photograph}: On this undated photograph supplied by the Portuguese Navy, smoke billows from the burning Felicity Ace automotive transport ship as seen from the Portuguese Navy NPR Setubal ship southeast of the mid-Atlantic Portuguese Azores Islands. The ship’s crew had been taken by helicopter to Faial island on the archipelago, about 170 kilometers (100 miles) away on Wednesday, Feb. 16, 2022. There have been no reported accidents. Picture credit score: Portuguese Navy through AP.

Copyright 2022 Bloomberg.

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