When The Ship Goes Down is the second official extended play by the Australian indie band, the Holidays.

[1] It was released on 11 October 2008, less than 6 months after the release of their debut, The Holidays EP.

Recorded with Wayne Connolly producing, When the Ship Goes Down is a concept EP, "about the decline of relationships and the thrill when one catches you by surprise".

[2] The lead single off this EP, "Mexico", had a music video made for it.

It received regular airplay on national youth radio station Triple J.