Kiribati-flagged general cargo ship Xiang Zhou sank near Nantong waters when it was sailing from Nantong to Busan in Korea this morning.
Shanghai Maritime Rescue Center sent a team of seven vessels to the site after receiving reports of the accident from a nearby vessel and managed to rescue two crews from the ship. The other 12 crew from the ship remain missing.
The local maritime safety authorities have sent warnings to the nearby vessels to avoid the ship wreckage site.
The vessel is owned by Ningbo-based Guo FX and managed by Ningbo Shanglun Shipmanagement.
The cause of the accident remains unclear and investigations are underway.