Finding : Sydney II 's captain , senior officers likely to have died in first salvo . Sinking of Sydney and loss of crew of more than 300 was Australia 's worst naval disaster . Japanese vessel , the Kormoran , was made to look like a cargo ship . After the wrecks of both ships were located in March 2008 , an Australian commission began an inquiry to formally close the book on the loss of the Sydney . Both ships went down ; more than 300 on Kormoran survived ; wrecks found May 2008 .
Finding : Sydney II 's captain , senior officers likely to have died in first salvo . Sinking of Sydney and loss of crew of more than 300 was Australia 's worst naval disaster . Japanese vessel , the Kormoran , was made to look like a cargo ship . Both ships went down ; more than 300 on Kormoran survived ; wrecks found May 2008 .