The intended role of the Ratanakosin-class vessels was to provide surface-to-surface and surface-to-air missile capability on a highly maneuverable platform.

[7] In December 2022, Sukhothai was on its way to attend a commemorative event of Prince Abhakara Kiartivongse[8] 32 kilometres (20 mi; 17 nmi) east of Bang Saphan in the province of Prachuap Khiri Khan.

A weather advisory for the area had been issued by the Thailand Meteorological Department, warning of 4-metre-high (13 ft) waves and advising ships to "proceed with caution".

[10] Seawater was reported to have entered an exhaust port, which led to flooding and a heavy list, followed by a short circuit in the ship's electrical system and failure of the pumps.

[12] As of 13 January 2023, the Royal Thai Navy said it planned to raise and salvage the sunken ship due to environmental and safety concerns, and also expressed an aspirational concept to potentially refit the warship.

While bidders were confident at the time in the viability of the project,[15] it was later abandoned due to cost concerns and poor chances of success.

[21][22] In April 2024, the Royal Thai Navy released the findings of divers, which led to the conclusion that the ship had been lost due to flooding primarily from three holes, one in the side from the hull which was presumed to be from floating debris, one on the forecastle deck where the waves ripped up the forward breakwater, and a hole in the fiberglass Otomalera 76mm turret.

Admiral Adung Phan-iam, the previous navy chief promised to publish the final report on Sukhotai's sinking.

Admiral Adung Phan-iam, Commander-in-Chief of the Royal Thai Navy, unveiled a memorial monument dedicated to the sunken warship HTMS Sukhothai on September 24, 2024.

The ceremony was held to honor the 29 crew members who perished or went missing during the ship's sinking in December 2022.The even was quietly done with minimal media presence.