1/ It does.
2/ Until we’ve heard both sides of the story, I wouldn’t be assuming it will need it. So far, we’ve heard what the junk has to say. The junk crew say they were doing the right thing. In other news, pope found to be catholic.
But nothing from the shipping company (at least that I’ve found). They’re losing the initiative.
I think you will find that the shipowners know too much about how to handle post casualty response to be very much concerned with your opinion about who has “the initiative”.
“At Champion, we say Yes…!” 
Quite a hunk, except when he’s drunk or in a funk. Slam dunk!
Seriously, this is a shame to have lost such a beautiful, hand-crafted ship. I wonder if Taiwan has different rules of the road in its territorial waters? I also wonder if the junk’s builders put some kind of transponder aboard or metal strips on the masts or something to make it more visible on radar… not that it would’ve helped, I guess, as it seems the freighter knew the junk was there. I can’t imagine how scared the junk’s crew must have been to see the freighter ominously bearing down on them.
Really, I’m disappointed. I was expecting at minimum a D&D style comment about initiative, possibly with humour, or perhaps information on how a corporation would deal with this kind of issue, rather than this dry fare. I will clarify: I don’t really expect that they’re reading the Dope and going “Oh crap, Jim, some dude on the internet thinks we should get on the stick with our reply to this accident!”. Obviously they don’t give a shit what you* and I think.
*Or maybe you’re a maritime law attorney, and they do give a shit, in which case, please, tell us more about a corporation’s response after running over a boat.
I am a maritime lawyer. I don’t want to say too much. I guess the basic thing is that information is power and so you don’t release more than you have to.
Nailed it in one.
has the other ship been identified? It may have been a hit & run. Or maybe they did not stop because they were not even aware they had hit anything.
Well, you just identify them as best you can. This is the schooner “Junk” calling the container ship bearing NNE from me. Just like you might call someone by saying, “you, the lady with the blue shirt”
Of course, electronic developments like AIS make the question moot.
“Champion Express” probably Norwegian owned, Greek managed.