the boats didn’t make it in time to safety evacuate the passengers and the ship is now sinking faster that predicted.
References and Easter eggs;
When the Carpathia responded to the distress calls from the Titanic, they quickly turned around and steamed as fast as they could to the scene, but when they arrived, all they saw was debris, bodies and lifeboats.
The Californian later arrived to the same sight, despite being approximately 10 miles from the sinking.
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