It's a strange one.
Ships will up and dissapear. You can still target them, but you get something like this:

The targeting brackets do not move from that spot no matter the orientation.
If I try to view from target I see this:

I can pan and switch the cameras all I want, there is no visible change.
Using fs2_open_C06152004.exe -spec -glow -jpgtga -d3dmipmap -2d_poof -fps
It happened in the second mission of the FSPort main campaign, and the TBP mission "Liberation of Anaria" (or some spelling similar to that). Team doesnt seem to matter either, as both a wingmate and that Anubis dissapeared at the same instant.