You don't think an on going world war and the sinking of American ships would be considered crises?
In one word, no. The sinking of a single cruise liner while tragic is not a crisis nor is war in distant Europe (who seem to like to beat on each other every now and then). It'll certainly be major issues during the election but a crisis I just cannot see. Had it been the sinking of a battleship perhaps, but unless France goes all unrestricted warfare on US merchant shipping it isn't going to be a crisis enough for Lincoln to seek a third term. Just my two cents though.