Devils coast? fact or fiction?

I was watching a program today that talked about the Devils Coast. IT touched upon all the ships lost in this area and contributed the losses to UFO's. Supposedly many ships have been lost in this area of the pacific and although the majority of the witnesses have seen a "ufo" there is no proof of it yet, the sightings in this area go back hundreds of years I was just wondering what you guys think?
The idea that UFO's have taken ships boggles my mind if it is true, and the others try to explain it off as volcanic activity in the area of incidence that has caused losses.
WHAT DO YOU GUYS THINK?

[edit on 12-4-2008 by Stumpy1]