A 91m cargo ship registered in Douglas, the Isle of Man, the Verity has sank off the German coast on Tuesday (24 Oct) reports Manx Radio.
The 2,601 gross tonnes Verity had collided with the larger 190m bulk-carrier Polesie as BBC News reported, and that none of the 22 crew of the Bahamas-flagged vessel were hurt in the incident which took place in the North Sea.
A search has been called off for four missing crew members from the Verity, which according to Isle of Wight County Press is owned by Faversham Ships based at East Cowes with cargo ships calling to ports among them Irish ports.
The German authorities have confirmed the decision to call off the search of the Dutch built cargo ship as the time frame for survival has passed given water temperature at the time of the collision was around 12c.
On board the Verity at the time of its sinking were seven people. It has been confirmed that one person is dead while a further two were rescued alive, with divers searching the water for the four missing - who it was initially hoped may be alive and trapped in the cargo ship on the sea bed.
Nearby vessels in south-west Heligoland, a German archipelago, included the Iona, a P&O Cruises ship which assisted with search efforts.
On late Tuesday evening, the Isle of Man Ship Registry (IOMSR) released a statement saying its 'thoughts are with the seafarers that sailed on board the Verity, their families, friends and loved ones'.