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The Ship is Sailing 

When you want 2 people to date you ship them, when they do end up dating, that’s when “the ship is sailing
Hey! Did you hear that jack and Leslie are finally together?

No way! The ship is sailing!

The ship has sailed 

Fandom: Used to express joy when a fan's ship comes to pass esp. in a TV show.
Oh my gosh! They kissed! They finally kissed! The ship has sailed!

The ship sunk 

A certain couple or shipped pair have broken up or did not get together.
The One True Pairing that did not succeed.
Person One:Hey did you hear about the power couple,Michelle and Peter
Person Two:Yeah bro,the ship sunk.
The ship sunk by da_rules July 23, 2015

The Ship Be Sinking 

Famous quote of former New York Knickerbocker Michael Ray Richardson. Indicates an epic fail.
Joe: Hey, what do you think of the Obama campaign now that Palin is the vp pick?

Me: The ship be sinking.
The Ship Be Sinking by Audacity17 October 20, 2008

The Ship Had Sailed Before Its Occupants Made It To The Harbor 

Also "The Ship Had Sailed Before Its Occupants Made It To The Port".

An idiom meaning the ship between characters was confirmed canon before people started shipping them.
Person 1: Doom Guy and Isabelle have already been confirmed canon by Nintendo.
Person 2: The Ship Had Sailed Before Its Occupants Made It To The Harbor

Flag the ship 

When a man has sex with a woman who is pregnant with another man's baby.
1. If you try to flag the ship, I'll fucking break your ass.

2. Baby, don't tell me you let someone flag the ship!