”I’ll never let go, I’ll never let go.” Cue My Heart Will Go On.
It wasn’t quite as dramatic for the cargo ship Cougar Ace that tipped after her ballasts were adjusted. The ship isn’t sinking, however, just out of order for now. Approximately 4,700 Mazda vehicles bound for Canada and the US are in her cargo hold. I’m sure the cargo was secured prior to leaving port, but secured enough to withstand a 60-degree roll – well, that remains to be seen. Of the 4,700 vehicles, 60% were Mazda 3’s, 30% were CX-7 SUVs.
July 27, 2006 at 11:01 pm
Cargo and ship will probably be written off. Should be cheaper for the company to take the insurance premium hit, than to salvage damage goods and a ship listing at 80 degrees. Question now is the size of the premium increase will depend on whether the ship is salvageable or allowed to sink. Marine insurance is probably the oldest form of insurance out there. It covers everything from freak of nature waves/storms to pirates – yes including those with an eye patch and sword in hand.