There's also the recently implemented get-object-x, get-object-y and get-object-z sexps, which can be used to achieve a similar effect. Do something like this, with a repeat count of 999 and an interval time of 10 seconds, for each ship you want to be affected:
-[color=red]op[/color] when
-[color=red]op[/color] and
-[color=red]op[/color] <
-#object-get-x
-#Alpha 1
-#1000
-[color=red]op[/color] >
-#object-get-x
-#Alpha 1
-#-1000
-[color=red]op[/color] <
-#object-get-y
-#Alpha 1
-#1000
-[color=red]op[/color] >
-#object-get-y
-#Alpha 1
-#-1000
-[color=red]op[/color] <
-#object-get-z
-#Alpha 1
-#4000
-[color=red]op[/color] >
-#object-get-z
-#Alpha 1
-#-4000
-[color=red]op[/color] sabotage-subsystem
-#Alpha 1
-#Hull
-#1
Result should be that Alpha 1 takes 1% hull damage damage every 10 seconds any time the ship is inside a box defined by these 8 points: (1000, 1000, 4000), (1000, 1000, -4000), (1000, -1000, 4000), (1000, -1000, -4000), (-1000, 1000, 4000), (-1000, 1000, -4000), (-1000, -1000, 4000), (-1000, -1000, -4000).