According to a report on CNN.com the Erik was in the Sea of Cortez near Isla San Luis, when it encountered some bad weather, capsized and sank. Reportedly all 16 crew members survived, and only one of the people rescued was sent to hospital. "We have been working with Mexican navy authorities and the U.S. Coast Guard in the search and rescue," Baja Sportfishing Inc. said in an e-mail. "Right now our main concern is making sure that everyone is accounted for." (CNN.com)
The 115 foot fishing boat was equipped with stabilizers, and built to handle heavy weather in the North Sea.