DAP Mares belonging to the Pivcevic family unexpectedly sunk Wednesday in Catalina Bay, Punta Arenas harbour area where she had been anchored for several days.
The former "Chinook", which is 76.5 metres long apparently began listing and in less than six minutes was on her side in 18 metre deep water, 500 metres offshore.
Fortunately the five crew members on board were rescued by a passing ferry and a Zodiac and quickly taken to hospital for medical checkups.
Punta Arenas port authorities and the Coast Guard have taken the necessary measures to prevent fuel contamination from the vessel with support naval units and special operational groups.
"Fortunately there were no human losses but we do not have an idea what happened. We can't understand how a vessel that had been anchored for five days suddenly lists and sinks", said Alejandro Pivcevic manager of Aerovías DAP and head of the group to which "DAP Mares" belongs.
The former "Chinook" was acquired in early 2005 at a cost of 3.5 million US dollars and specifically refurbished for Antarctic operations and cruises.
"We have charter contracts for the coming Antarctic season including the Chilean Antarctic Institute and similar organizations from Bulgaria and Russia; it has really messed up all our summer's program, it's a disaster", admitted Mr.Pivcevic.
As to the possibility of recovering the vessel Mr. Pivcevic said it was possible since she was not that far from the coast and in relatively shallow waters, "but we don't know her condition".
Punta Arenas port authority Captain Ivan Valenzuela said the vessel was carrying diesel fuel which commonly evaporates quite rapidly so "the contamination problem we can say is contained". However the owners of the vessel said they would be sealing all the tanks as soon as they can board her again.
Captain Valenzuela added "DAP Mares" had all documents and certificates in order and all proceedings are now in hands of the Maritime authorities which are undertaking the investigation.
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