The Irish entry was sailing in 20-knot winds when she struck a rock off the small island of Gosong Mampango at 2018 GMT, 13 January (0418 local time, 14 January).
The yacht was competing in the fifth race of the biennial global challenge which left Geraldton, Western Australia for Singapore on 3 January 2010.
Initial reports from skipper Richie Fearon stated that the boat is lying on her side on the rock with the toe rail under water and that some hull damage has occurred.
Because the winds were increasing, the crew evacuated to the island as a precaution. Competitors Team Finland and California were in the vicinity and immediately stood by off shore.
Clipper team evacuated after striking reef
The team aboard Clipper Round-The-World Race contender Cork, Ireland are safe after their vessel struck a reef in the Java Sea, 200 nautical miles northeast of Jakarta.