The old PICO finally sank in Ostend [Belgium] docks on 13 April 1999. The former Agile-class minesweeper built in 1954 as AM479 for the US Navy had been laying derelict in Ostend since a fire broke out in 1995. Built at Bellingham Ship Yards she was transferred to the Portuguese Navy in 1955 as M418 PICO until 1973. In 1974 she was transferred to the Belgian Navy and used for spare parts only. In 1985 she was sold to the Sea Scouts. After the fire in 1995 when a lot of questions arose about the safety of the wooden hulk often used by scouts as a sleeping place, she was sold again to a foreign businessman which has of course disappeared by now. The PICO is resting on the bottom of the dock with just her main deck visible above the surface. The city will probably have to pay for the salvage or demolition costs herself. This particular corner of the Ostend fishing harbour has been the centre of more controversy. The dock is littered with wrecks and partly demolished craft, an ideal place for activities which shun daylight...
9/99..This information courtesy of Urbain's Nautical Page
She is still in the dock, as the expenses for refloating the ship are more then $250,000. The city of Ostend has become the owner of the ship.
UPDATE: Has later been used as accommodation vessel for the Sea Scouts. She burnt out in 1996 and sank a few years later. She was raised and scrapped in May 2007. Additional Pico Pictures