Preliminary report released 2 February 2012

On 6 January 2012, the Panama registered general cargo ship Tycoon was moored in Flying Fish Cove, Christmas Island. The ship remained at the moorings over the following days while cargo operations were carried out.

In the early hours of 8 January, the wind speed and sea state increased and the moorings failed to keep Tycoon in position. At about 0620, the ship made contact with the adjacent rock-face and shore crane pylon. Despite several attempts to move Tycoon away, it continued to pound against the rock-face and pylon and the engine room began flooding through a tear in the hull.

At about 0930, the decision was made to abandon ship. At 1030, the crew climbed down the ship's accommodation ladder one at a time and jumped into the sea. From there, they were recovered by the crews of three Royal Australian Navy rigid hull inflatable boats which were standing by to assist.

At about 1100 on 9 January, the ship suffered a catastrophic failure of its hull. The contents of the number two hold were exposed to the sea. Damage to the hull near the engine room had already allowed oil and other pollutants to be washed into the sea.

The ATSB is continuing its investigation into the incident and a draft investigation report will be complied. When the draft investigation report is approved for release, it will be forwarded to directly involved parties for comment.