There is little hope for the 22 missing crew members following the sinking of a South Korean very large ore carrier (VLOC) Stellar Daisy, Reuters reports citing Uruguayan Navy official.

“The more hours pass, the less the chances are of finding them,” Gaston Jaunsolo, spokesman for the Uruguayan Navy said.

According to Jaunsolo, the ship is believed to have split in two and sank soon after. Initial media reports, citing the two Philippino crew members, indicate that shifting of the cargo might have been the cause of the hull crack that led to the ship’s capsizing.

The 1993-built Stellar Daisy sank in the South Atlantic, some 3,700 kilometers off Uruguay, on March 31.

The ship was carrying eight South Korean and sixteen Filipino men.

On April 2, two Filipino sailors were rescued from a life raft. However, other lifeboats and rafts found in the vicinity were empty.

A Brazilian aircraft, four Korean merchant ships and an Argentinian navy ship are participating in search operations, according to the Korea Times.

On March 31, the crew of Stellar Daisy sent a distress signal to Polaris Shipping, the owner of the vessel, saying that the ship was taking on water.

The vessel is believed the have sunk within five minutes after sending the distress call.