Lessons Learned From the Felicity Ace Disaster
In February, the 60,000 gt car carrier, Felicity Ace, caught fire and burned for over a week before recovery teams could board. After running aground while being towed to safety, the ship began to sink and is now two miles beneath the surface of the Atlantic Ocean. The crew safely abandoned ship but the loss of the vessel’s cargo, comprising close to 4,000 vehicles estimated at $330m and accounting for anticipated wreck salvage costs, the total damages arising out of the casualty are expected to fall just shy of $500m.
The casualty has direct legal and environmental impacts, but there are potential indirect legal consequences due to the disruption of vessel movements, the impact of delay, delivery of goods, and risk allocation under the contracts.
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This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.