As of Sunday morning, the ship was located approximately ten miles northwest of Umnak Island in calm seas. The Cougar Ace has been listing since problems arose during a required open-sea transfer of ballast water on July 23rd, approximately 230 miles south of Adak.
The Coast Guard reports that the ship's salvage team will continue efforts to rig pumps on-board the ship to remove water from the vessel's number nine cargo deck. They also will adjust the ship's ballast condition to right the ship and restore its upright stable condition.
UPDATE: Added art. Umnak has some history here and here.