Five men have been rescued but six are still missing after their ship overturned northeast of the Faeroe Islands late last night, reports Frettabladid.
The vessel, Jokullfell, which was carrying 2,000 tones of steel, was on route from Lithuania to Reydarfjordur, in the East Fjords.
Planes and helicopters continue to search for the missing crew, but have found only an empty life raft.
While Jokullfell was an Icelandic ship, the vessel had been rented and operated by an Estonian crew.