I sunk a ship in the Kiel Kanel with my deck gun today. It blew apart and one half sank. But the other half, sank and then bounced back up, then sank again. Before bouncing back up again, and sinking AGAIN. And again, and again, and again.
Then guess what? Yep thats right it BOUNCED BACK UP !!!
This continued for over 1/2 hour, before i got bored watching it and sailed away.
It's prob still there bouncing around.