MOL's RoRo 'Baltic Ace' sinks in shallow water after colliding with container ship 'Corvus J' off the coast of Holland.
The 148-metre (485-foot) car carrier Baltic Ace, sailing under the Bahamas flag, carrying cars from Zeebrugge in Belgium to Kotka in Finland, took water after the collision and the 24 crew took to the liferafts, reports BBC News.
Several helicopters and two navy patrol ships continue searching for the missing sailors.
The 134-meter Corvus J was badly damaged but reportedly not in danger of sinking, with all 12 crew members still on board.
The shipping lane where the accident happened is one of the busiest in the North Sea, about 100km (60 miles) from Europe's busiest port, Rotterdam, although reportedly the port's operations would not be affected by the collision.