Ouch. The blog quoting this estimates the loss at over $100 million. I wonder how much of that the insurance company will pick up, particularly since it was Mazda that decided to scrap the cars.
Mazda Motor Corporation today announced that all of the U.S.- and Canada-bound Mazda vehicles from the car-carrying vessel, Cougar Ace, which nearly capsized off the Aleutian Islands in late July, would be scrapped. “After thorough testing by engineers from our American and Japanese R&D centers, we decided the most appropriate course of action – with our customers foremost in mind – was not to sell any of the 4,703 Mazdas aboard the ship,” said Jim O’Sullivan, President and CEO of Mazda North American Operations, based in Irvine, Calif. The Cougar Ace sat listing at more than 60-degrees for nearly a month after an incident at sea, before it could be towed to the Port of Portland, Ore., for repairs and to have its cargo off-loaded.