Maritime stories of ships sinking in a boiling sea may in fact be due to a large cloud of methane hydrate roiling up beneath a vessel, changing the specific gravity of the media in which the hapless ship is caught. I have often wondered if an electromagnetic field could be generated by a large ‘bubble of methane rising through sea water, thus disturbing the compasses of planes fying at lower altitudes. Perhaps that is what confused the flight of WWII planes lost off the eastern seaboard?
Ocean water is electrically conductive, so maybe something that stirs it up in a certain way could make itself known as a fluctuation in the local magnetic field of the earth. But not hugely so, not enough to lose a ship or aircraft.