New Fishing Reef Off France Includes 37 Porsches

[PD41]

Container ship carrying 2,000 cars, including 37 Porsches, worth millions of dollars sinks off the coast of France.


The ship was carrying 37 Porsches, including four models of the 911 GT2 RS, which is worth $292,200 each

Porsche informed its Brazilian customers that it would restart production of the model due to the sinking
Another European car maker, Audi, lost a number of its vehicles in the shipment, including the Audi A3, A5, RS4, RS5, and Q7 models

https://www.dailymail.co.uk/news/article-6828463/Italian-container-ship-bound-Brazil-carrying-2-000-cars-sinks-coast-France.html?ito=social-facebook&fbclid=IwAR2J0UfCjzBpvty_O5rTeedxdDrc26xsqW8mF9RmD vkPGh6ueui2b1hTIbE

[porsche4life]

I’m having the strangest feeling of dejavu....

[PD41]

"My Bad" just saw it posted on page 2.

[speeder]

Yours has a better thread title, though.

[varmint]

Need to find a clip from Risky Business.

“Who’s the U-boat commander?”

[oldE]

Originally Posted by PD41

"My Bad" just saw it posted on page 2.

Don't feel bad. This was just thread number three.

Best
Les

[A930Rocket]

Dang! This is the third shop to sink off the coast of France. 😂

[fastfredracing]

Id be getting my diving gear ready if that were closer . Wonder if I could pull a motor underwater ??

[Deschodt]

Over there they're pretty unhappy about the pollution from the ship and contents... looking at ways to contain that...

[pwd72s]

Envrionmentally could be worse...think Prius batteries corroding, releasing who knows what toxic metals.

[Nickshu]

Originally Posted by fastfredracing

Id be getting my diving gear ready if that were closer . Wonder if I could pull a motor underwater ??

If you filled the crankcase with air after the engine drop maybe you could get it to float to the surface?

[svandamme]

prettu sure them alu blocks , bearings and plastic chain guides + seawater equals a load of craptastic useless shooooit.

[svandamme]

I love how they mention the value of the cars. ooh gt2rs 300 k

But no mention of container ship cost/value..
I doubt the entire cargo combined was worth more then that ship was

[gtc]

2,000 cars at an average of say $30,000 is $60 million. I doubt that old beater ship was worth that much.
Edit: Built in '97, so I guess it's not all that old. Just needed a paint job.

[svandamme]

It's not just actual sunken ship value, but also cost to replace
That 22 year old tub had a commercial value to the shipping line, it was earning moolah.

To put in perspective, Grimaldi Lines invested in 7 new multipurpose RoRo cargoships
that was a 450 million USD investment. 64 million USD a pop...
226 million was cofinanced by the EIB

What is the insured value of the cars on board really set to?
MSRP?
Actual sale price?
or cost to build?
Is Porsche and VAG profit insured or not? honest question I don't know how that kind of stuff works.

[Zeke]

Originally Posted by svandamme

What is the insured value of the cars on board really set to?
MSRP?
Actual sale price?
or cost to build?
Is Porsche and VAG profit insured or not? honest question I don't know how that kind of stuff works.

Porsche et al will have to submit a claim based on actual value lost. I seriously doubt any downstream profits are insurable or claimable unless written so. So, if Porsche faces some start up costs to begin another run at producing the GT2 RS, it's gonna be on their books.

All my opinion, nothing more.

[svandamme]

That makese sense, else a sinking ship would be double revenu & profit.

But then the value of the cargo is much less then 60 million and my point sticks, the ship is the bigger loss

[Zeke]

Originally Posted by svandamme

That makese sense, else a sinking ship would be double revenu & profit.

But then the value of the cargo is much less then 60 million and my point sticks, the ship is the bigger loss

And you wonder about that. We don't know what the ship was insured for. Could even be for completion of the sailing and losses at the other end. Could have been over insured but you would think at that level things are scrutinized to the dollar.

I think insurance on these deals is complicated. My wife retired from a shipping company at the Port Of Long Beach and she doesn't completely understand the insurance and when the hand offs occur. They did all the Mercedes coming in to the general region given that Mercedes Vehicle Preparation Center is located also in Long Beach. Once the truck driver is handed the keys, all of the shipping liabilities end, that she knew. That leaves a lot of in between.