The Ranga was on her maiden voyage from Vigo to Reykjavík under Captain Miguel Ángel Díaz Madariaga.

The ship lost power on this voyage during a storm, and was wrecked at 52°6′33″N 10°28′6″W / 52.10917°N 10.46833°W / 52.10917; -10.46833 at Dunmore Head, close to Coumeenole Beach, near Slea Head on the Dingle peninsula, County Kerry, Ireland on 11 March 1982.

The local rescue team comprising members of Dingle Fire Brigade, the Garda Síochána and emergency services, rescued some of the fifteen crew members by Breeches buoy.

Captain Miguel Ángel Díaz Madariaga was the last to be rescued and dropped off the vessel.

The stern section of the wreck was removed in 1991, due to filming of Far and Away, which included a scene shot at Dunmore Head.