There is a two part weld called Harvey's Plummer's Weld. It should be
available at most plumbing parts stores. It comes in a tube with one
of the two components inside the other. Pull off a hunk and knead
them together like clay. The patch can be applied under water as it
is designed to stop water leaks; even under pressure.
Good luck.... And remember, the Captain goes down with his ship! {:-)