If you raid harbors, a ship is not always able to get "under water" in a timely manner, and sometimes not at all. A ship might show as sunk, but the "sinking" has not completed. It might show in your log, but as soon as you leave the spawn area, then the ship is no longer "sinking", and is capable of re-spawning if you come back... Just another oddity of the game.
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"...and bollocks to the naysayer/s" - Jimbuna
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