Knut Matland's son, Sigurd, was captain of the Penguin and also died in the accident.
The Penguin left New Bedford on February 6, 1961, for the fishing grounds 50 to 60 miles south of Block Island. The vessel's last contact was with the master of the Growler, on February 8. When she failed to return to port by February 17, the Coast Guard began a search that lasted until February 23, using eight aircraft, two cutters, and other smaller vessels. No trace of the ship or crew was found, and no reason could be determined for the ship's disappearance.