Between 16.31 and 16.33 hours on 10 Septemer 1942, U-96 fired four torpedoes at four ships in convoy ON-127 and hit three ships: Elisabeth van Belgie and Sveve sank and F.J. Wolfe was damaged, but was able to continue with convoy.

The Sveve (Master Harald Hansen) in station #32 was hit by a torpedo on the port side near #5 main tank. The explosion destroyed the bulkheads to the starboard tank, opened holes on the starboard side and destroyed the steering gear. Within 4 minutes, the main tank and the pumproom flooded. 20 minutes later the 37 crew members and two gunners abandoned ship in four lifeboats after examining the damages. They were picked up within an hour by HMCS Sherbrooke (K 152) (Lt J.A.M. Levesque, RCNR), which tried to scuttle the wreck by firing about 15 shells. The Sveve sank by the stern that evening after the valves had been opened by four crew members of the corvette and four crew members from the tanker who had reboarded the vessel. The survivors were landed at St. John’s on 16 September.