On the evening of January 8, 1999, 29-year-old fisherman Steven Reeves was aboard the 112-foot clamming vessel F/V Cape Fear as it returned to New Bedford through Buzzards Bay. Weather was severe, with 25–30 knot winds, six to ten foot seas, rain and sleet. Reeves had been a crewman on the Cape Fear about 18 months and was in the wheelhouse with two other deckhands and the captain, Steven Novack, as they made their way toward calmer water.

Around 8:00 p.m. a large wave washed over the stern and the water did not drain; by about 8:15 p.m. the vessel capsized and sank rapidly. The F/V Misty Dawn rescued three of the five crew after roughly 30 minutes in the water; Captain Novack, mate James Haley Jr., and deckhand Joseph Lemieux survived. Paul Martin’s body was recovered ashore the next morning with his survival suit zipped only to the waist. Reeves was last seen with his survival suit half-donned and, despite extensive searches, his body was never recovered and he is presumed lost at sea. An investigation cited downflooding from following seas and human factors, noting the vessel was overloaded with clamming cages and an aft hatch was left open.