Newly restored historic sailing ship crashes and sinks days after relaunch

The mast of the Elbe No. 5 can still be seen above the water.

(CNN)A historic sailing ship has crashed just days after taking to the water following an extensive renovation project.

The 121-foot Elbe No. 5 collided with the 466-foot Astrosprinter, a Cyprus-flagged cargo ship, on the Elbe river near Hamburg, Germany on Saturday afternoon, according to Wilfried Sprekels, a fire department official.
Eight passengers on board the Elbe No. 5 were injured in the collision at Stadersand, Sprekels told CNN. They were rescued from the boat and taken to different local hospitals.
The Elbe No. 5 is the oldest fully wooden ship in Hamburg.
Emergency services secured the ship because of fears of oil leaks and a rescue company will investigate the possibility of recovering the wreck, he added.
    There were 43 people on board at the time, including 14 crew members, according to a statement from Hamburg police.
    The cause of the crash is not yet known, but an investigation continues, police said.
    The Hamburg Maritime Foundation, which owns the ship, released a statement on the accident.
    "We are deeply saddened by the collision. Our thoughts are with the passengers and the members of the ship's crew who were hurt," read the