Portsmouth based former ice patrol ship HMS Endurance is to be scrapped.
The Ministry of Defence decided it would cost too much to repair after it was damaged by flooding in Chile in 2008.
The move comes as three former Type 22 frigates are set to be towed from Portsmouth Naval Base to the Leyal Ship Recycling centre in Turkey.
The first to leave is Chatham, which is departing today, followed by Campbeltown and Cumberland, with Cornwall set to sail for Wales at a later date.
Endurance, known as Red Plum, was severely damaged by flooding in the incident in South America.
A total of 15 civilians had to be airlifted off the ship following the leak which was caused by a faulty valve.
The ship's role as the Navy's Antarctic patrol vessel has been taken over by HMS Protector, a former Norwegian research ship which was given a refit for its new role.
A MoD spokesman said:
''To bring HMS Protector up to the Royal Navy's world-class standards, 5 million was invested in improved communications systems, enhanced armour protection and specialist hydrographic equipment including a survey motorboat.
''HMS Endurance is due to go out of service in 2015 and, given the level of damage she sustained and the subsequent deterioration of the ship, it was not considered economically viable to repair her.
''The purchase of HMS Protector offers good value for money and secures the UK's long-term ice patrol survey capability.''
Source: 8 October 2013