Factual error: The Italian words/phrases that can be seen on the ship doors, billboards, etc. are very badly translated. In particular, the phrase "Veleno di attenzione" in the flashback part, in English would sound like "Poison of Attention." The correct Italian translation would be "Attenzione: Veleno" (01:07:45)
Visible crew/equipment: In the scene before the Arctic Explorer explodes, Greer picks up the radio, and to the left of him there is a orange pillar-thing. In it you can see a reflection of a crew member walking from left to right across the orange pillar. (00:45:05)
Continuity mistake: In the scene where Epps is looking at the swimming pool, when she falls backwards from seeing Katie at the top of the stairs, there is a safety ring at the bottom of the pool. Yet later on in the film when Katie is showing Epps what happened to the people in the ship and how people were shot in front of the pool, there is no ring. (00:32:25)
Continuity mistake: In the beginning when the singer is singing, her hands frequently change position between the shots. (00:01:00)
Factual error: A ship as large as the Antonia Graza going down that fast would drag down everything around it too, but Epps (within about 50 metres of the boat as it sinks) doesn't even have to struggle to escape its pull. In reality, she would have drowned. (01:20:25)
Continuity mistake: In the scene where the people are dancing and later killed by the line you can see the glass is still standing after it was cut. (00:04:25)
Continuity mistake: When Francesca is messing with Greer, his shirt says "Everlast" on it. After he falls down the shaft, the word is gone.
Continuity mistake: When Francesca is hanging by her neck, in the background we see the guy she killed laying on the floor. His body disappears then reappears in different shots.
Continuity mistake: When Epps jumps into the sea you see the Arctic Warrior is almost completely under water. When it cuts most of the ship is above water. (00:46:30)
Plot hole: After the tugboat is sunk, the crew try to repair a very old ocean liner - the ghost ship - using equipment that could only have come from the tugboat, which had the latest scuba gear and welding gear, but they are all at the bottom of the ocean in the blown-up tugboat.
Suggested correction: The salvage crew are shown very early on bringing a variety of equipment onto the liner long before their own ship is sunk. It is obviously intended to insinuate where the salvage gear required later came from.
Continuity mistake: When Francesca is half-nude, she turns to walk around the far side of the glass enclosure. The camera cuts in closer, and she begins her turn again.
Continuity mistake: In the scene where Francesca is seducing Greer she is standing at a shaft. She is holding her hand at a door post. Each time the camera looks from behind her her hand is somwhere slightly above her head. When the camera looks from the other side her hand is much lower, at the height of her neck. (01:02:00)
Continuity mistake: When Santos is calling for Murphy over the speaker after discovering something on the radar, you see Jack tipping his head backwards. When it cuts he has his head down. (00:12:20)
Factual error: When Murphy goes into the "Cabina de Capitano" (Captain's Cabin), he sees the glass with a little alcohol in it, and the bottle standing next to it, without a cork or stopper. If left standing open like that, after 40 years, the liquid would have evaporated. However, it can be said that the Captain's ghost made it appear to entice Murphy.
Suggested correction: I think the captain's ghost did that just like Francesca had the lit cigarette inside the ash tray.
I amended my entry to reflect your suggestion, thank you.