 The loss of "Asgard" was investigated by the Marine Casualty Investigation Board and its final report was released on 27 September 2010.The most likely cause of the accident, the investigation found, was that the ship collided with a submerged object.Although the maintenance and operation of "Asgard II" were found to be in excess of that required by the then-current regulations, a recommendation was made that the practice of classing sail training vessels as cargo ships rather than passenger ships should be reviewed.