Specifically, the car carrier declared a total loss, as it is expected to receive insurance proceeds of about 26 million in Q3 2020, close to the value of the vessel.
Furthermore, the owner of the carrier, Ocean Yield informed that net cash proceeds after repayment of debt related to the vessel will be approximately $8 million.
For the records, the fire broke out following the loading operation of vehicles at JAXPORT’s Blount Island Marine Terminal on June 4.
In fact, the fire resulted in an explosion which injured nine fire fighters, including two with serious burn injuries. The fire burned for eight days before it was extinguished.
Concluding, Höegh Xiamen was commercially operated by Grimaldi Deepsea S.p.A. on a service linking East Asia with North America and the Caribbean through the Panama Canal.