(e) Major marine casualty means a casualty involving a vessel, other than a public vessel, that results in—
- (1) The loss of six or more lives;
- (2) The loss of a mechanically propelled vessel of 100 or more gross tons;
- (3) Property damage initially estimated as $500,000 or more; or
- (4) Serious threat, as determined by the Commandant and concurred in by the Chairman, to life, property, or the environment by hazardous materials.