BC Queen of the North ferry sinks
At approximately 12:43 a.m. on Wednesday, March 22, the British Columbia ferry MV Queen of the North hit a rock near Gill Island in Wright Sound, off the coast of Port Hardy in British Columbia after veering off course (the captain was not on the bridge at the time of the accident). It took about an hour for the ferry to sink, giving passengers time to get out. The vessel was carrying 101 passengers and crew, and all but 2 were accounted for. Thanks to quick-responding fishing vessels and a helicopter, they were taken to nearby Hartley Bay.
http://en.wikinews.org/wiki/BC_Queen_of_the_North_ferry_sinks
The ship was completely submerged. BC Ferries president David Hahn wouldn't speculate on what caused the accident.
http://www.cbc.ca/story/canada/national/2006/03/22/bc_ferry060322.html