The 2,327-dwt Cemfjord(built 1984) is partially afloat with the vessel aligned vertically with only the bow section above the waterline.
Two helicopters and four lifeboats have called off the search for the eight crew of the Cemfjord who are presumed to have died.
The Cyprus flag Cemfjord, equipped for pneumatic cargo handling, is owned by Baltic Sun Partenreederei.
Brise said the lost crew consisted of seven Polish and a Filipino seafarer and it was in the process of informing their familities.