Local officials say the over 800 missing were likely trapped in the ship. Divers sent to the ship knocked on the hull, and got no sign of life inside.
Some of the survivors said to be from The Princess Of The Star are actually from a cargo ship that also sunk, M/V Lake Paway, which departed from Mindanao during the storm.
The line said that famliles of those who did not survive would be given compensation of P200,000. The 200,000 pesos converts to about $4,480 in U.S. dollars on June 23, 2008. The line says families have to prove they had a family member aboard and that they died.
This may not be easy for some. The mayor of island of Burias, Eduardo Andueza says when victims washed up on shore dead, or died after coming ashore, he had them buried.
Some of those dead could be from Princess Of The Star, others may be the cargo ship and fishing vessels that also sunk in the area during Typhoon Frank.
Transport Undersecretary Elena Bautista said Sulpicio Lines was responsible for the sinking of the ferry with more than 800 people on board, and all of its vessels would be suspended from sailing until further notice. Yet, the line continues to sell tickets.
Latest reports say that a coast guard official said the Princess of the Stars was cleared to leave for Cebu island shortly before the typhoon changed its course.
With the typhoon approaching, the captain was instructed to take shelter and "attempted to do that,'' the official said.
Still, with the Typhoon in the immediate area, and the seas churning, questions are being asked as to why the Coast Guard would clear a passengers vessel to leave port. The blame game begins with the government blaming the line, and the line blaming the captain and others blaming the coast guard.
It was the Sulpicio Line's fourth disaster at sea in the past two decades but despite a government order banning Sulpicio Lines from operating its 22 vessels, the company continued to sell tickets.
The Sulpicio Line's Doña Paz ferry collided with the oil tanker Vector on December 20, 1987. The death toll aboard the Doña Paz was 4,341 people killed, though the ship was only licensed to hold only 1,565 passengers.
The Vector, which was carrying 8,800 barrels of petroleum products that ignited and caused a fire that rapidly spread onto theDoña Paz. An inquiry later revealed that the crew of the Vector was under-qualified and that the boat's license had expired.
In other local news, a fishing vessel with 100 aboard is reported to have sunk during the storm in the same general area the Princess Of The Stars sunk. Only five survivors from that sinking have been found.
UPDATE: JUNE 26, 2008
Reports are now saying that 57 very lucky souls survived this disaster. Searchers continue to look for any other survivors with 70 confirmed dead. Divers are beginning to bring bodies up from the ship. They some had life jackets on, and some did not.
An inquiry has begun into the Princess of the Stars disaster and the coast guard station commander in Manila has been removed from his post while it proceeds.
It has now been confirmed the nine ships sunk during the typhoon, making it difficult to figure out which ship bodies belong to, as they wash up on shore, or are found floating on the sea.