I can admit it when I was wrong, and obviously Jin is alive. As can quite clearly be seen here, he left the freighter and swam to the zodiac raft and paddled away before the explosion engulfed the deck in flames.
Seriously, my three or four seconds estimate was way off - in the clip below Jin is last seen in the deck of the feighter at 3:43 and the explosion occurs at 4:16, 33 seconds later. Plenty of time for him to have abandoned ship and gotten far enough away to avoid being towed under along with the sinking vessel. I was wrong, Jin is Alive.