The Sanchi oil tanker collision occurred on 6 January 2018 when the Panamanian-flagged, Iranian-owned tanker Sanchi, with a full natural-gas condensate cargo of 136,000 tonnes (960,000 barrels), sailing from Iran to South Korea, collided with the Hong Kong-flagged cargo ship CF Crystal 160 nautical miles (300 km) off Shanghai, China. The Sanchi caught fire shortly after the collision; after burning and drifting for over a week, it sank on 14 January with the loss of all hands. The crew of the CF Crystal was rescued and the ship made port in China. The financial damage of the Sanchi’s sinking, based on NIOC estimates, is around USD 110 million: USD 60 million for the cargo and USD 50 million for the vessel itself.
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