Vice Admiral Arturo Gosingan, Coast Guard commandant, said the MV Princess Abegail, which was carrying 12 crewmen, sank between Manamoc and Nangalao islands in Palawan after it was battered by big waves and strong winds.
Seven crewmembers were rescued by fishermen and were brought to Nangalao Island for medical attention.
The Coast Guard has advised vessels passing through the area to be on the lookout for the five missing, identified as Iladio de Luna, Eduardo Bacalla, Marcelo Alante, Jose Bosigro and Banny Padua.
Meanwhile, the Coast Guard said the oil spill off Semirara Island in Cebu has been contained. — Nestor Etolle