Nearly two weeks after it caught fire, a cargo ship carrying luxury cars has sunk off the Portuguese Azores archipelago.

There were 4,000 cars on board the ship, named Felicity Ace, including Porsches and Bentleys.

It was on its way from the German port of Emden to Rhode Island when the fire broke out. All the crew members were evacuated when the fire broke out on February 16th.

A captain of the closest port, on the island of Faial, told Reuters that no oil leak has been reported so far, but there are concerns about damage to the fuel tanks while the vessel lies at the bottom of the Atlantic at a depth of around 3,500 metres.

Volkswagen said the damage to the vehicles was covered by insurance which could cost around $155m (£116m) according to Reuters.

189 Bentley cars were on board the ship, and Porsche said about 1,100 of its models were on board.

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