The Boston command centre was notified at about 12:35 a.m. that the engines on the Liana's Ransom went out, and its sails were wrapped around the mast.
Joseph Tilley, who owns the ship along with his son and captain, Ryan Tilley, said Tuesday that his son had sailed out of Nova Scotia on Friday evening bound for the Caribbean.
"En route, she suffered a full power failure," Joseph Tilley wrote on the ship's Facebook page.
As the weather worsened, two coast guard lifeboats were launched to tow the vessel back, but rough sea conditions caused a tow line to break.
The lifeboat crews instructed the crew of the Halifax-based ship to wear immersion suits and prepare to abandon ship. Nine people were transferred to the lifeboats.
One man who had leapt from the Ransom to the coast guard vessel suffered a concussion and was flown to Massachusetts General Hospital by helicopter. The remaining eight crew members were brought back to Gloucester.
"My thanks to the professionalism and prompt response of the U.S. Coast Guard, who had been monitoring the situation for some time," Tilley wrote.
"Captain Ryan Tilley made the the right call in the best interests of his crew, and as a father I am very proud of the way he and his crew handled the situation."
The captain closed the water-tight doors and hatches, and got the crew off the ship before leaving himself, Tilley said.
Ship dismasted in 2014
A locator beacon was left on Liana's Ransom so it can be tracked and eventually towed back to port.
"It was fortunate for the crew of the vessel that the owner reached out to us," said Jay Woodhead, command duty officer at the Boston command centre.
The replica pirate ship was dismasted off the coast of Cape Sable Island, N.S., in December.
The ship's Facebook page details the repair work after that misadventure.
On March 27, the page says the ship left the Meteghan River in Nova Scotia, bound for St. Maarten, Dutch West Indies.
It says Ryan Tilley was in command, and that "the old fella will join ship in the Bahamas."