Here's a breakdown:
* Riven: This means "split or torn apart," likely due to a storm or other forceful event.
* Masts: These are the tall vertical poles on a ship that support the sails.
* Gone by board: This means "fallen overboard" or "washed away."
Therefore, the phrase describes a significant damage to the ship, where the masts were broken and lost. This would be a major setback for the Swiss Family Robinson, who relied on their ship for transportation and survival.