The disaster of a great ship, serving as a metaphor, sends shockwaves across the seafaring world. The workers of the sea operate within a clear hierarchy. At the base are the oarsmen, who grip the long rowing oars to steer small boats [מצודת ציון]. Above them are the sailors responsible for navigating medium ships, while the master captains command the largest vessels [מלבי״ם].
When news of the disaster spreads, all these workers abandon their jobs and leave their vessels behind [ביאור שטיינזלץ]. They retreat from the water and stand on dry land [רד״ק].
This mass abandonment of the sea is understood through two different lenses. On one hand, the retreat is driven by paralyzing fear; the men are terrified to continue sailing, worried that a similar disaster might happen to them [מצודת דוד]. On the other hand, standing on the shore reflects a deep economic despair. Facing such massive ruin, they wonder why they even need ships anymore, realizing there is nowhere left to take their goods [רש״י].