The dead seafarer was named as Almarito Anciano, chief engineer of the 300-dwt Sea Merchant (built 1982) by the Philippine Coast Guard.
The vessel carrying a cement cargo on an inter island voyage initially developed a list. As the vessel began to sink the crew abandoned ship taking to two lifeboats.
The survivors were rescued by a passing ferry.
The elderly Japanese built vessel is part of the fleet of Manila based Fortune Sea Carrier, listed as the operator of nine modestly sized general cargo vessels.
