The Marshall Islands' flag state report into the loss of the 1993-built Stellar Daisy, along with the lives of 22 seafarers, did not pull any punches, even though the industry had to wait two years after the disaster to discover its hard-hitting conclusions.

The report candidly describes the poor structural condition of many such veteran ships, which, beginning around 2008, were converted from early 1990s-built, single-hull tankers to ore carriers, almost entirely at Chinese yards.