Core Viewpoint - The sinking of the "Morning Midas" car carrier has highlighted the risks associated with transporting electric vehicles by sea, particularly regarding lithium battery fires, and has raised concerns about the adequacy of current shipping practices and regulations in the industry [1][8][11]. Group 1: Incident Overview - The "Morning Midas" car carrier sank on June 23 after a fire led to flooding, carrying approximately 3,159 vehicles, including 65 electric vehicles and 681 hybrid vehicles [1][3]. - The vessel had departed from Yantai Port on May 26 and was scheduled to arrive in Mexico on June 15 [1]. Group 2: Industry Context - Roll-on/roll-off (RoRo) ships like the "Morning Midas" are specialized for transporting vehicles, but they have been involved in multiple fire incidents in recent years, raising concerns about safety [2]. - The shipping industry is currently facing a mismatch between the rapid growth of electric vehicle exports and the availability of suitable vessels for their transport [11][22]. Group 3: Technical Aspects of Transporting Electric Vehicles - Two primary methods exist for transporting electric vehicles: using containers or specialized RoRo ships. The latter allows for easier loading but poses higher risks if a fire occurs [4][5]. - The design of RoRo ships may not adequately account for the unique risks posed by lithium batteries, which can ignite under certain conditions, leading to severe fires that are difficult to extinguish [10][12]. Group 4: Market Dynamics - The current shipping market is characterized by a lack of vessels designed for the safe transport of electric vehicles, leading to increased risks and potential losses for shipping companies and manufacturers [11][22]. - The incident reflects broader issues in the shipping industry, including the dominance of British firms in maritime insurance and ship classification, which may complicate claims and liability processes for Chinese companies involved [14][26][28]. Group 5: Future Opportunities - The rise of Chinese companies in the shipping industry, particularly in shipbuilding and logistics, presents an opportunity to address the current inadequacies in the market and improve safety standards for transporting electric vehicles [22][25]. - Recent developments, such as the launch of advanced car carriers by Chinese firms, indicate a shift towards better-equipped vessels that can mitigate the risks associated with transporting electric vehicles [23][24].