Latest news with #MattFarah
Yahoo
05-06-2025
- Automotive
- Yahoo
U.S. Coast Guard Rescues 22 from Burning Car Carrier Hauling EVs Across the Pacific
A car-carrier ship known as the Morning Midas filled with hundreds of EVs has been evacuated by the U.S. Coast Guard some 300 miles off the coast of Alaska after an onboard fire engulfed the 600-foot cargo ship on Tuesday. The ship originated from Yantai, China, on May 26 and was bound for the port of Lazaro Cardenas, Mexico, where it was reportedly set to deliver 3000 vehicles, according to a statement from the ship's management company Zodiac Maritime. Of those 3000 vehicles, Zodiac Maritime told Automotive News that the Morning Midas was carrying about 800 electric vehicles, though the manufacturer of these vehicles is not yet known. Zodiac Maritime said that the 22-person crew of the Morning Midas initiated firefighting procedures but were unsuccessful in putting out the blaze, prompting the U.S. Coast Guard to evacuate all 22 persons on board. A statement from the Alaska Maritime region of the U.S. Coast Guard said that there were no reported injuries from the fire or during the evacuation. Three USCG vessels initially arrived on scene, with a larger cutter ship and aircraft assets arriving later. This is not the first time in recent years that a boat carrying thousands of cars has sunk. The Felicity Ace, a Panamanian ship regularly contracted by the Volkswagen Group, sank in the North Atlantic Ocean back in 2022 due to an onboard fire allegedly fueled by an electric battery, bringing 4000 VW Group vehicles along with it. (Road & Track editor-at-large Matt Farah actually had a custom-ordered Porsche that sank inside the Felicity Ace.) Then, a Dutch ship known as the Fremantle Highway caught fire in the North Sea in 2023, killing one crew member and drowning a fleet of Rolls-Royces. Similarly, the Grande America sank in 2019 from an on-board fire, dooming a crop of ultra-rare Porsche 911 GT2 RS units. The implications of such an event for automakers are significant in its own right, but this most recent fire re-ignites debate about the safety of shipping electric vehicles. Following the fire and sinking of the Felicity Ace, a number of safety watchdog organizations as well as anti-EV pundits began to question the sanctity of shipping cars that could ignite into a relatively uncontrollable blaze. Allianz Commercial even confirmed to Reuters that such incidents were at the highest level ever in 2024. That being said, the Vehicle Carrier Safety Forum recently published a set of guidelines to further prepare ship crew for the potential of fire, and included specific actions meant to limit damage and danger should a blaze occur. While we don't know which manufacturers are affected by this sunken ship just yet, we do know that 3000 vehicles won't ever make it to dealership lots. That's not a drop in the bucket for any automaker, but the safety and security of all 22 crew members remains the most important factor. (This is a developing story; R&T will update it should more information come to light.) You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car
Yahoo
04-06-2025
- Automotive
- Yahoo
EV-Fueled Inferno Forces Crew To Abandon Ship Carrying 3,000 Cars Across Pacific
If fire departments on land have problems unleashing the torrent of water needed to extinguish a single burning EV, the crew of a ship doesn't stand a chance against hundreds of flaming lithium-ion batteries. A cargo ship carrying around 3,000 vehicles across the Pacific Ocean caught fire on Tuesday. The Morning Midas, a 600-foot cargo ship, was in the middle of a voyage from Yantai, China to Lazaro Cardenas, Mexico when the fire broke out. Zodiac Maritime, the ship's London-based operator, noted that smoke was first spotted on a deck carrying 800 electric vehicles. Once the blaze got out of control, the vessel's 22 crew members abandoned ship via lifeboat. With the ship roughly 300 southwest of Alaska, the U.S. Coast Guard dispatched aircrews and a cutter to respond to the emergency, according to Bloomberg. The evacuating crew on the lifeboat was transferred by the USCG to one of the three other merchants at the scene, helping to fight the fire. Zodiac Maritime wouldn't comment on which automaker's vehicles were burning to a crisp. This is an ongoing story, and we will update when we know more about the fate of the Morning Midas. Read more: These V6 Engines Put The LS1 V8 To Shame The inferno on Morning Midas will remind many of the Felicity Ace fire in 2022. The 650-foot cargo vessel burst into flames while carrying 4,000 cars built by Audi, Bentley, Lamborghini, Porsche and Volkswagen. Despite the hope of towing the ship to port once the fire was put out, Felicia Ace sank to the bottom of the Atlantic Ocean. The lithium-ion batteries fitted to the EV onboard kept the fire burning much longer than expected. One of the cars that ended up on the seafloor was a Porsche Boxster Spyder ordered by Matt Farah, host of The Smoking Tire. He was just glad that the ship's crew escaped unharmed. Fighting EV fires in the middle of an ocean is a tall task for any crew. It often takes tens of thousands of gallons of water to douse a burning lithium-ion battery. While it might seem straightforward to put a pump over the side and use saltwater to put out the flames, it's not a viable option. The salt in ocean water is electrically conductive and would fuel an ongoing blaze. Current guidelines for crews emphasize early detection and limiting water use by letting EVs burn while containing any potential spreading. We're going to need better ways to fight battery fires if electric vehicles are going to be far more numerous. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
The Drive
10-05-2025
- Automotive
- The Drive
Ford Mustang GTDs Could Cost More Than $600,000 When All Is Said and Done
The fastest American car to ever loop the Nürburgring might also be among the most expensive ones to do so. According to one would-be owner of the upcoming Ford Mustang GTD, what was originally billed as a $325,000 car may actually end up costing double that once everything is said and done. On a recent episode of The Smoking Tire podcast, the GTD breaking its own sub-seven-minute lap of the Green Hell became a topic of discussion. However, co-host Matt Farah had additional eye-popping news to share about the monster pony car. As he explains at the 59:35 mark, a collector he met during a motoring club event expressed some distress regarding his Mustang GTD order. 'He was very concerned about his GTD order because what he was told originally would be about a $300,000 car with the options and the track aero kit and all the things you get … the final number started with a six,' said Farah. He further quoted the buyer as saying, 'Shit, I might be tapped out …' When Ford opened the application process for the Mustang GTD last spring, the listed MSRP was $300,000. By the summer, that figure rose to $325,000. Nevertheless, more than 7,500 handraisers signed up for the 1,000 or so build slots (yup, the production number has moved, too). An 8% price increase was likely of little concern to the ultra-high net worth individuals who made GTD reservations. But a 100% price hike? That's a final bill discrepancy that would floor almost anyone. Chris Tsui To be fair, the Mustang GTD is a limited-production hi-po machine, so, of course, owners are going to want to make their particular purchase as exclusive as possible. For example, although the GTD is available in six standard colors, an 'Exclusive Extended Color Palette Lock-Out Option' does two things: open up thousands of other paint finishes, but also 'locks' that color exclusively for that particular owner. This means first-come, first-served dibs for your choice of finish, but not without paying a handsome fee for the privilege. I mean, if a two-tone roof on a Subaru Forester or Nissan Kicks can set you back $890 and $800, respectively, then a similar, proportional markup for the mighty GTD could easily be in the five figures. And that's just for a color option. Check the boxes on anything and everything else, and well, the dollar signs will add up. If this collector is to be believed, either the add-on parts and packages are ridiculously priced, or the cost of production has increased in unexpected ways—the Mustang GTD is built by Multimatic in Canada, after all. As Farah points out later in the podcast, though, 'Don't necessarily hold me to this. This is a conversation I had with one collector.' And, true, one person's purchase experience isn't representative of everyone else's. But who knows? Things costing way more than expected seems to be a persistent, universal experience these days. We wouldn't be surprised if other GTD owners are in a similar situation. In any case, Mustang GTD production is scheduled to start this spring. Are you a GTD allocation holder facing a bigger bill than expected? Get in touch here: tips@ Beverly Braga has enjoyed an eventful career as a Swiss Army knife, having held roles as an after-school teacher, film critic, PR manager, transcriber, and video producer – to name a few. She is currently a communications consultant and freelance writer whose work has appeared in numerous outlets covering automotive, entertainment, lifestyle, and food & beverage. Beverly grew up in Hawaii but roots for Washington, D.C., sports teams.
Yahoo
28-04-2025
- Business
- Yahoo
Tariffs muddy contrarian stock indicators flashing ‘buy' sign
(Bloomberg) — Usually, when sentiment toward US stocks turns this grim, volatility is elevated and analysts are slashing expectations for returns, it's a cue for risk-taking investors to pile in. Newsom Says California Is Now the World's Fourth-Biggest Economy Why Car YouTuber Matt Farah Is Fighting for Walkable Cities At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History Los Angeles Downgraded to AA- by S&P Due to Budget Woes US Cricket Deepens Bet on Texas With HQ Shift From California But Wall Street, whipsawed by tariff policies that change on a dime and on edge over the potential for economic data to sour, is finding that playbook doesn't apply, even as the S&P 500 Index (^GSPC) has clawed back nearly half of its slide since a February peak. For HSBC Holdings Plc's Max Kettner, it's the first time in years he's setting aside the cues from the positioning and sentiment measures he typically monitors and discounting the odds of a rebound. 'I'd advise clients to disregard such signals at the current juncture, precisely because policy uncertainty is still so elevated and is unlikely to go away anytime soon,' the firm's chief multi-asset strategist said. Investors are left to contend with a new reality: generally reliable buying indicators have been broken by capricious policy announcements from the White House, making it nearly impossible to predict where stocks will go next. By one measure, investors are unprecedentedly pessimistic. Traditionally, such a view is a greenlight for dip-buyers to wade in. The closely watched American Association of Individual Investors survey has extended a streak of bearish readings of 50% or more to a record nine weeks, data from Bespoke Investment Group show. Since 1987 there have only been three other periods where sentiment has been that bad for even five straight weeks. The stock-market moves that followed were mixed. 'The news kept getting worse during those streaks,' said Bespoke Investment Group co-founder Paul Hickey. 'These days, investors remain concerned because of what seems to be a near certainty of economic weakness over the horizon.' At Bank of America Corp. (BAC), strategists led by Michael Hartnett view the recent advance as a pain trade, squeezing stocks higher. They're advising clients to sell into rallies and warning that the conditions are missing for a sustained climb, with trade policies likely to continue driving investors out of US equities as recession and inflation risks mount. A recent BofA survey found that fund managers are 'max bearish' on the macro-environment — pessimism that historically suggested an upcoming reversal. However, they are 'not quite max bearish on the market' based on their allocations, implying further room for stocks to drop. There are stronger buy signals. BMO Capital Markets points to the negative earnings revisions that have been a reliable precedent for gains in the past, along with investors' gloomy outlook, and risk aversion on retreating multiples and elevated volatility. Those indicators are all at levels that historically have seen an average return over the subsequent year of at least 10%, the firm estimates. For now, while retail investors have been buying, Wall Street remains skeptical. Institutional investors have stayed more or less neutral on the market, based on flows monitored by Deutsche Bank AG (DB), as they 'remain caught between mounting macro concerns and potential trade relents.' Until there's more clarity from the White House, the stock market is relegated to an uneasy limbo. 'You have to figure out how to price in tariffs and it's nearly impossible — if companies can't model it, how can investors forecast that?' said Dave Mazza, chief executive officer at Roundhill Investments. 'If you look at other technical indicators like put-to-call ratios or the percentage of stocks at 52-week lows, those aren't screaming 'buys' either. So it makes for a mixed picture where you can't point to one thing and say that's the bottom.' —With assistance from Matt Turner. As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers The Mastermind of the Yellowstone Universe Isn't Done Yet Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sign in to access your portfolio
Yahoo
28-04-2025
- Business
- Yahoo
China Re-Exports Record Monthly Volume of LNG on Weak Demand
(Bloomberg) -- China has re-exported more than 280,000 tons of liquefied natural gas so far in April, the highest volume ever in a single month, according to ship-tracking data compiled by Bloomberg. Newsom Says California Is Now the World's Fourth-Biggest Economy Why Car YouTuber Matt Farah Is Fighting for Walkable Cities At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History Los Angeles Downgraded to AA- by S&P Due to Budget Woes US Cricket Deepens Bet on Texas With HQ Shift From California That is equivalent to 7.7% of total imports for the month, the data shows. The high volume of re-exports is likely spurred by weak domestic demand, as a mild winter and robust inventories mean that China is not in any dire need for the super-chilled fuel. The nation may also benefit from higher prices abroad. Meanwhile, imports of the fuel are also set to fall this month, extending a slump in buying activity for a sixth month. Exporting shipments from Chinese ports is rare but the nation has leaned into the practice since November, with the volume increasing from the start of the year, according to Bloomberg data. Prior to November, the last time the country re-exported shipments was in January 2024. Kpler, an analytics firm that tracks ship data, shows that China exported about 160,000 tons in April. The resales could provide relief to buyers elsewhere, especially importers in Europe who are looking to refill inventories and replace the loss of Russian pipeline deliveries. Importers in China had earlier diverted most of their contracted LNG from the US to Europe in search of higher profits amid weak domestic demand and punitive tariffs on American fuel. More News: Gail is seeking to purchase an LNG cargo on a DES basis for June delivery to India Angola LNG offered a cargo on a DES basis for May delivery to locations including South America, Europe, the Middle East and South Asia Jera Co. is considering participating in a proposed liquefied natural gas export project in Alaska, as part of Japan's efforts to negotiate a trade deal with the US A total of 12 LNG ballast vessels are waiting near the Bintulu plant in Malaysia, according to ship-tracking data compiled by Bloomberg, as exports from the facility rise after an outage Drivers: European natural gas prices broadly held last week's decline as demand for supplies of tanker-borne fuel continued to waver in Asia, leaving more available for other buyers Estimated flows to all US export terminals were ~15.6 bcf/day on April 27, +0.5% w/w: BNEF China's 30-day moving average for LNG imports was 137k tons/day on April 24, 38% lower than this time last year, according to ship-tracking data compiled by Bloomberg European gas storage levels were ~38% full on April 26, compared with the five-year seasonal average of ~49% Buy tender: Sell tender: --With assistance from Kathy Chen. (Updates with LNG wrap details.) As More Women Lift Weights, Gyms Might Never Be the Same Why US Men Think College Isn't Worth It Anymore Eight Charts Show Men Are Falling Behind, From Classrooms to Careers The Mastermind of the Yellowstone Universe Isn't Done Yet Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention ©2025 Bloomberg L.P.
