Aristotle Onassis of his fleet, while having trouble managing their own fleets, which operated under US flags and thus at high cost. The high profitability of the Onassis fleet has been attributed in large part to his disregard for standards that normally govern international shipping. For example, after his Liberian registered tanker SS Arrow ran aground and spilled oil into Chedabucto Bay in 1970, still the most significant oil spill off Canada’s East Coast (about 25% of the amount spilled by the Exxon Valdez in Alaska in 1989), there was a Commission of Inquiry. Led by Dr Patrick McTaggart-Cowan, executive director of
History of the oil tanker the English Channel. "Seawise Giant" was renamed "Happy Giant" in 1989, "Jahre Viking" in 1991. From 1979 to 2004 she was owned by Loki Stream, at which point she was bought by First Olsen Tankers, renamed "Knock Nevis" and converted into a permanently moored storage tanker. The Batillus class supertankers are the biggest ships ever constructed by gross tonnage. Although the tanker fleet increased around 12 percent annually around 1970, a shortage on tonnage remained. In 1973 this resulted in an enormous increase in new building orders, especially from oil majors that wanted to gain on the quicker deciding independents,