A tanker carrying Iranian oil that collided with a Chinese freight ship in the East China Sea on Saturday (January 6) was still ablaze on Monday morning (January 8), a South Korean coast guard official and China’s state broadcaster CCTV said, as emergency rescue teams continued to search for the missing crew.

The Sanchi tanker run by Iran’s top oil shipping operator, collided with the CF Crystal about 160 nautical miles off China’s coast near Shanghai and the mouth of the Yangtze River Delta on Saturday evening.

According to CCTV the tanker was still ablaze as of 0000GMT on Monday, with risks of further explosions.

The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude. That is equivalent to just under 1 million barrels, worth about $60 million, based on global crude oil prices.

The freight ship, which was carrying U.S. grain, suffered limited damage and the 21 crew members, all Chinese nationals, were rescued.