A burning cargo ship adrift in the Atlantic Ocean carrying approximately 4,000 luxury automobiles from Volkswagen AG (OTC:VWAGY) sank as it was being towed to land.
What Happened: The 650-foot, 60,000-ton cargo ship called the Felicity Ace departed from Emden, Germany, on Feb. 10, to Davisville, Rhode Island, for the delivery of European luxury cars. A fire started Feb. 16 on the vessel that crew members were unable to contain, and the Portuguese military evacuated the 22-member Felicity Ace crew roughly 200 miles off Terceira Island in the Azores.
