High winds at the Mobile, Alabama shipyard where Triumph was being repaired broke her mooring and sent the ship into the bay.
Coast Guard crews are looking for one man said to have been either working on the ship or in a small guard shack nearby.
Reports say that tugboats have stabilized the ship and are moving it back into its docked position.
WKRG in Mobile reports there is a hole in the side of the ship and scrapes along the bow.
The Triumph is the same ship that went adrift in the Gulf of Mexico after an engine fire. The ship was towed for four days with no power and rancid conditions onboard.