www.zerohedge.com BY TYLER DURDEN
Seafaring firefighters are struggling to put out a fire aboard the Felicity Ace, a massive cargo ship that has caught fire off the coast of Portugal’s Azores islands with thousands of luxury cars – including Porsches, Audis and Volkswagens – on board.
We chronicled the incident a few days ago, noting that the shipment of cars had been bound for the US market, where a shortage of supply and surging demand has led to a serious crunch in new car supply. The shortage has left many American teens struggling to find a suitable used car to buy as their first automobile.
Maritime law dictates that any party who helps to save the cargo on the ship will be entitled to some remuneration so…in essence, it’s “finders, keepers” for the thousands of cars that may or may not be damaged from the fire and smoke.
