Correct!
On September 26, 2002, Le Joola set sail from Ziguinchor in the Casamance region on one of its frequent trips between southern Senegal and the country's capital Dakar. It was about 1:30 pm. Although the ship was designed to carry a maximum of 580 passengers and crew, an estimated 1,863 passengers are believed to have been on board. At around 11 pm, the ship sailed into a storm off the coast of the Gambia. As a result of the rough seas and wind, the ferry quickly capsized, throwing passengers and cargo into the sea. Detailed reports indicate that this happened in less than five minutes.
(Lifted from wikipedia)