EastSouthWestNorth posts on a South Korean freighter which after a collision was leaking benzene into the air. Taiwan's Environmental Protection Agency called in the ROCAF, who deployed F-16s to drop 2,000 pound laser-guided bombs that failed to sink the freighter. Next a pair of AH-1W Super Cobras attacked with eight Hellfire missiles. At last sighting the freighter had still failed to sink completely. See ESWN's post for pictures.
As for the lessons learned, ESWN reports:
[T]he armchair generals are having a good time commenting about how these armed forces can fight a war when they cannot even sink a static capsized ship.
*For more on the scripted nature of Taiwan's military exercises, see this post on this year's Han Kuang exercise.