So You Lost Your Porsche on a Burning Boat. Now What?

What owners of the more than $400 million worth of Bentleys, Porsches, Lamborghinis, and other Volkswagen autos aboard the Felicity Ace can expect.

Smoke billows from the burning Felicity Ace car transport ship, viewed from Portugal’s Navy NPR Setubal southeast of the Azores. The ship's crew was taken by helicopter to Faial island on the mid-Atlantic archipelago on Feb. 16, with no reported injuries. 

Source: Portuguese Navy/AP

It’s a car person’s nightmare: The special Bentley or Lamborghini you ordered a half-year back—or more—is finally on a cargo ship headed your way. Then the ship catches fire.

The nightmare became reality on Feb. 16 when a vessel sailing from Germany to Rhode Island caught fire near the Azores with more than $400 million worth of autos aboard, including luxury models from Bentley, Porsche, and Lamborghini. A daring rescue by the Portugal’s Air Force and Navy saved all 22 crew members, with no reported injuries.