Advantages of oil cooled pistons over water cooled pistons

what are the advantages of an oil cooled piston over a water cooled piston?

I can tell you of a disadvantage. Report of piston crown failure on tanker “British Valour” in 2001. If the pistons had been water cooled rather than oil cooled, a crankcase explosion would have been adverted.

However, I prefer B&W because they always were oil cooled.

Regards David.

http://www.gov.im/lib/docs/dti/shipregistry/valour.pdf