Business: Maritime Disaster

"I christen thee Olympic Bravery," cried Christina Onassis, as she smashed a bottle of champagne last October against the blunt bow of the first giant tanker to be delivered to the Onassis fleet since she took over its management after the death of her father, Aristotle Onassis. The 275,000-ton ship, which earlier had undergone successful sea trials, headed from Brest on her maiden voyage on Jan. 24 and ran into a sudden squall. Then the ship's engines inexplicably quit, leaving it to drift in 60-m.p.h. gusts; the 30-man crew dropped two anchors but...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!