On March 4, 2017, the British-owned and Bahamian-flagged cruise ship Caledonian Sky ran aground near West Papua province, Indonesia at low tide. In the process, the ship severely damaged the coral reefs at Raja Ampat, an island known for some of the world's richest marine biodiversity. The barely damaged ship was righted by a tugboat but at low tide, rather than waiting until high tide; in the process the reef was further damaged. The incident caused the destruction 1600 square miles of the reef "and the reduction or loss of diversity of eight coral genera, including acropora, porites, montipora and stylophora." The team evaluating the damage suggested compensation of $800-$1,200 per square meter, for a total of $1.28m-$1.92m; the standard rate of $200-$400 per square meter was exceeded because the reef is a popular dive site and in a national park. Funds recovered could be used to restore the reef but it will take up to a decade to do so; funds may also be used to deploy further preventive measures.
For more information, see:
Basten Gokkon, "British-owned cruise ship wrecks one of Indonesia’s best coral reefs," The Guardian, (Mar. 10, 2017) available at: https://www.theguardian.com/environment/2017/mar/10/british-owned-cruise-ship-wrecks-one-of-indonesias-best-coral-reefs