The search for seven sailors from the Volgo-Balt 199 cargo ship that sank in the Black Sea off the Turkish coast on Tuesday continues, according to Valship, the company that operated the vessel.

"The search continues… We may receive some updates later," the company told the agency.

It was reported earlier that the Volgo-Balt 199 river-sea dry cargo vessel sank in a storm off an Istanbul suburb on December 4. There were 11 citizens of Ukraine and one citizen of Russia on board the ship. Three Ukrainians and one Russian were rescued. One sailor was found dead. The search for the remaining sailors continues.

According to foreign media reports, a boat with Turkish rescuers trying to rescue sailors from the Volgo-Balt 199 hit a rock and sank. Three rescuers died, and another three are missing.

Valship said the search operations for one Russian and six Ukrainian crewmembers continue.

Valship's top management, said the company spokesman, was discussing monetary compensation for the families of the sailors who had died, but would make the final decision when the search is over.

According to the Russian Maritime Navigation Register, the Volgo-Balt 199 was built in 1976 and was sailing under the flag of St. Kitts and Nevis. Its owner is the Ukrainian company Baltwave 199 Ltd. and its operator is the Ukrainian company Valship.