The 23,000-ton ship of the Sulpicio Lines, carrying more than 700 people on board, left Manila for central Philippine hub of Cebu on Friday. It met rough weather at sea on Saturday noon before the caption ordered to abandon the ship, whose engine had been seriously damaged in high waves and strong winds.

A relative of a ferry passenger cries as she awaits the latest news inside the office of Sulpicio Lines in the port area of Cebu city, central Philippines June 22, 2008. (Xinhua/Reuters Photo) 

PCG rescuers reaching the scene on Sunday reported that they had failed to "see any survivors or bodies around the upturned ship, or even any life jackets or other flotation devices," the national news network INQUIRER.NET reported.

"The rescuers will also be scouring the other coastal areas to check for the passengers," PCG Commandant Admiral Wilfredo Tamayo told INQUIRER.NET.

"I hope and I pray that many are alright," he said.