3,000 new cars lost on sunken cargo ship off the coast of Alaska were likely worth millions of dollars

A cargo ship sank off the coast of Alaska this week with 3,000 new cars worth millions of dollars on board.

The ship called ‘Morning Midas’ sank on June 23, 2025, in the Pacific Ocean, about 450 miles southwest of Alaska’s Adak Island.

The massive cargo ship caught fire on June 3 and was burning for three weeks before it ultimately sank.

The ship was carrying thousands of new cars including electric and hybrid vehicles, and the financial loss amounts to millions of dollars.

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The Morning Midas cargo ship sank off Alaska

Morning Midas was a Liberian-flagged cargo ship operated by Zodiac Maritime and en route from Asia to Mexico when it caught fire.

All 22 crew members were fortunately safely evacuated shortly after the fire and rescued by a nearby ship.

When it sank, the ship was carrying 1,530 tons of low-sulfur fuel oil and 350 tons of marine gas oil, raising pollution concerns.

These ships carrying electric cars are becoming an increasingly common sight.

This huge BYD ship is currently carrying 7,000 Chinese NEVs to Europe on its first voyage.

What will happen to the cars that sank?

The Morning Midas was carrying 3,048 vehicles, including 681 hybrids and 70 EVs.

The vehicles were likely worth millions of dollars, with some reports estimating the total value to be in the hundreds of millions.

Unfortunately, because the vessel sank in water that was about 16,400 feet (5,000 meters) deep, recovery seems unlikely.

In terms of the environmental risk posed, no fuel leakage has been detected so far.

However, pollution-control teams are remaining on site to monitor.

The case mirrors the 2022 Felicity Ace incident, where a fire aboard another EV-laden cargo ship led to its sinking.

The lithium-ion batteries in electric cars are suspected to have contributed to the fire’s severity, reigniting safety debates – with EV batteries that fully recharge in 18 seconds just given the green light to be mass produced.

Thankfully, China has had a breakthrough in EV battery safety standards that some claim will make fires impossible.

Authorities, including the US Coast Guard, are investigating the cause of this incident, while the company coordinates pollution prevention efforts.

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