Transport ship with estimated $438 million of cargo sinks after catching fire

A cargo ship that caught fire while transporting 4,000 cars from Europe to the United States sank Tuesday after a fire broke out onboard nearly two weeks ago.

MOL Ship Management Singapore Pte Ltd confirmed its ship Felicity Ace toppled over and sunk about 253 miles off the coast of Portugal at about 9 a.m. local time. It was a 60,000-ton merchant ship carrying around 4,000 luxury Volkswagen cars — including models from Porsche, Bentley, Audi, Lamborghini, and other Volkswagen AG brands.

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