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LIVE DESK·Global markets desk·Last updated 14s ago
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Panamanian-flagged cargo ship sinks off India’s east coast; 2 rescued

The *Ocean Winner* was carrying iron ore when it sank, with 22 crew members still missing. India’s Coast Guard has recovered two survivors so far.

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David Chen · Commodities Desk · 23 Aug 2026 · 02:38 · 1 min read
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Panamanian-flagged cargo ship sinks off India’s east coast; 2 rescued

A Panamanian-flagged cargo vessel carrying iron ore sank off India’s eastern coast on Saturday, the Indian Coast Guard reported. The Ocean Winner lost contact with authorities during the incident, prompting a search-and-rescue operation.

Two crew members have been rescued from lifeboats, according to Commander Amit Uniyal, spokesperson for the Indian Coast Guard. The cause of the sinking has not been determined, and the operation to locate the remaining 22 crew members is ongoing.

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The vessel was transporting iron ore when it went down, the Coast Guard stated. The crew consisted of 24 people: 20 Chinese nationals, three from Myanmar, and one from Bangladesh. The incident occurred off the coast of India’s eastern state of Odisha, where maritime authorities are coordinating search efforts.

The Indian Coast Guard did not provide further details on the vessel’s condition prior to the sinking or the conditions at the time of the incident. The agency has not commented on potential contributing factors, including weather or mechanical issues.

Search operations remain active as authorities continue efforts to locate the missing crew members.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
David Chen
Commodities Desk

David reports on energy, metals and agricultural markets, tracking how supply signals and safe-haven demand move prices across the commodities complex.

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