Another memorial marks one of the worst shipping tragedies since World War Two, this occurred on the 31st January 1953 when the Princess Victoria, a roll-on/roll-off car ferry sank during horrendous seas with the loss of 133 people. Built in 1947 in Dunbarton by Denny & Brothers it was the first purpose-built ferry of her type to go into operation. Her capacity was 1500 passengers with sleeping accommodation, she was part of the rail link from London operated by British Rail and formerly by the London, Midland and Scottish Railway Company. The ship had put to sea at 7.45 am during a gale warning with 128 passengers, 51 crew and 44 tons of cargo.

 The external guillotine which had been fitted to protect the stern doors had not been lowered and as the ship proceeded out into the channel the storm was at her stern causing waves to break on stern damaging the stern door which allowed water to enter the car deck. The crew could not close the damaged door and water flooded in and could not clear the ship quick enough and she subsequently took a list. The captain tried to go stern back into Lough Ryan but this failed so he decided to try and make it to Northern Ireland with a course that would shelter the stern. At 9.46 a message was relied to Portpatrick for urgent assistance. At 10.32 an SOS was made and the order to abandon ship was given at 14:00 approximately 5 miles east of the Copeland islands.