Jaguar Land Rover awaits news of £100 mn worth of 1,200 cars aboard beached ship

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London | Updated: January 7, 2015 4:42:17 PM

Jaguar Land Rover has not given any indication of the value of its cargo but 1,200 luxury cars could be worth close to £100 mn ($151.80 mn).

Jaguar Land Rover, Tata Motors About 1,200 luxury cars made by Tata Motors-owned Jaguar Land Rover could be damaged after a car transporter ship carrying them ran aground on a bank in the English channel.

Jaguar Land Rover said on Tuesday it was awaiting word on the fate of 1,200 luxury vehicles aboard a 51,000-tonne car transporter ship that has run aground in the English Channel.

Salvage experts are working around the clock to right the Hoegh Osaka, which has been stuck on a sandbank off the south coast of England since Saturday.

Range Rovers and other Jaguar Land Rover models accounting for most of the 1,400 vehicles aboard are covered by insurance, said a spokesman for the British carmaker, owned by India’s Tata Motors Ltd.

“We’re still evaluating what has happened,” the spokesman said. “Our main objective is to get sold orders to customers.”

The company has not given any indication of the value of its cargo. According to Reuters calculations, 1,200 of the company’s luxury cars could be worth close to 100 million pounds ($151.80 million).

Jaguar Land Rover, luxury cars, Hoegh OsakaThe cargo ship Hoegh Osaka, which is carrying at least 1400 luxury cars, lies on its side after being deliberately ran aground on the Bramble Bank near Southampton in southern England. (Reuters)

Salvage experts have yet to report back on the condition of the cargo, which may have moved as the vessel listed to a near-45 degree angle. According to reports, about 1,400 vehicles are aboard the breached ship, including 1,200 made by Jaguar Land Rover, 65 Minis, and one Rolls Royce Wraith.

The ship’s owner, Hoegh Autoliners, has said its crew deliberately beached the ship after it began listing dangerously following its departure from the port of Southampton, bound for Germany. An investigation is underway.

 

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