Thirty-one of the 34 crew members lost their life due to hypothermia; the three survivors endured 90 minutes drifting in the frigid waters of the Atlantic.

The tragedy tightened inspection standards, resulted in mandatory survival suits for winter North Atlantic runs, and helped create the now famous Coast Guard rescue swimmer program.

The Marine Electric put to sea for her final voyage on 10 February 1983, sailing from Norfolk, Virginia, to Somerset, Massachusetts, with a cargo of 24,800 tons of granulated coal.

The following day, she was contacted by the United States Coast Guard to turn back to assist a fishing vessel, the Theodora, that was taking on water.

The Theodora eventually recovered and proceeded on its westerly course back to Virginia; the Marine Electric turned north to resume its original route.

Multiple mayday calls were made to Coast Guard beginning at 2:51 a.m.[4] Shortly thereafter, the Marine Electric capsized, killing 31 of the 34 man crew.

Investigations by the Coast Guard, led by Captain Dominic Calicchio and independent examinations of the wreck discovered that the Marine Electric had left port in an un-seaworthy condition, with gaping holes in its deck plating and hatch covers.

In the wake of the Marine Electric sinking, The Philadelphia Inquirer assigned two reporters, Tim Dwyer and Robert Frump, to look into old ship catastrophes.

The song, which details the exploits of a loyal crew working to salvage the titular vessel, and more specifically the last stanzas, was repeatedly sung by Cusick in order to keep himself awake in the pounding Atlantic swell.

Rogers responded by inviting Cusick to what would be one of his last concerts, announcing on the stage that upon his return to Canada he would write a new song specifically about the sinking of the Marine Electric.