A Polaris Shipping-owned very large ore carrier (VLOC) suffered water ingress through a crack in its hull before capsizing and sinking off Uruguay with 24 crew members onboard.

The Uruguayan navy cited a text from a crew member on Friday as saying the 266,000-dwt Stellar Daisy (built 1993) was taking on water and breaking up.

A merchant vessel rescued two men in a life raft from the Polaris Shipping-owned bulker, but searches were continuing on Monday for 22 more missing men.

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