According to El Commercio (http://ww1.elcomercio.com/noticiaEC.asp?id_noticia=307762&id_seccion=8), an Ecudorian newspaper, the yacht Galapagos Journey II (Cormorant) has sunk in the Galapagos Islands. All 14 passengers and 8 crew appear to have been rescued.
We will get more details as soon as they are available.