That's what I've been wondering about as well
No no no, Falastur must not be killed or fatally injured. He's my very favourite bad guy (or semi-bad, depending on the situation), and he's so much fun to play in an rp. It'd be cool if his ship was sunk or captured, though, and he had to do some swimming ...
I'm not sure if Elessar could or would do anything against him, either. Surely he's aware of Falastur's attitude towards Faramir. Falastur is powerful, and I think Aragorn likes to have him around so that he can watch him personally. Falastur has rendered the realm some important services recently, so one can't just lock him away for attempted treason or collaboration anyway, and usually he's quite careful that none of his more shady doings can be traced back to him. Should his words concerning Faramir's death indeed reach Elessar's ears, he's going to be in for trouble, however. And for punishment the King just has to raise the taxes for Pelargir, or see to it that Falastur has to pay something extra out of his own purse to cause real unhappiness there
I'm sure Faramir's going to be looked after well on the ship. He's going to want some real food, too, after his recent diet of uncooked sea-creatures and water-melon, although he's going to have to be careful with that.
Now I have to do some drawing, and then I'll see if I can get a post written