The tale of Felicity Ace

Jim Loftis, Ciara Ros and Joe Mallet, of Vinson & Elkins, report on the Felicity Ace casualty

In February 2022 the 60,000 gt car carrier Felicity Ace caught fire and burned for more than a week before recovery teams could board and commence operations. Unfortunately, the vessel began to sink while being towed to safety and is now two miles beneath the surface of the Atlantic Ocean and may be unsalvageable. The crew were able to safely abandon the ship, but the loss of the vessel’s cargo was significant, of approximately 4,000 vehicles with an estimated value of around US$330 million. If wreck salvage is viable, the anticipated costs of this casualty are expected to amount to approximately $500 million.