Eight crew died when the MV Cemfjord capsized in violent sea conditions in January 2015.
The alarm was raised by the NorthLink ferry Hrossey, sailing to Aberdeen from the Northern Isles, after the cargo ship’s upturned hull was spotted.
The inquiry at Wick Sheriff Court is due to hear final submissions on Wednesday.
Sheriff Gary Aitken is expected to issue his determination on the accident later this year.
The 83m (272ft) Cyprus-registered Cemfjord had been sailing to Runcorn in Cheshire.
Seven Polish nationals and one Filipino died in the sinking.
The Marine Accident Investigation Branch (MAIB) said in 2016 the deaths could have been avoided if the master had instead sought shelter.
The MAIB said the master’s decision was “probably influenced by actual or perceived commercial pressures”, and described the sea conditions as “extraordinarily violent”.