A ferry carrying more than 350 people sank early Monday near an island in the southern Philippines, with at least 316 passengers rescued and 15 bodies recovered.

The M/V Trisha Kerstin 3 was traveling from Zamboanga to Jolo when it reportedly suffered technical problems and went down shortly after midnight in good weather near Basilan province.

A coast guard safety officer on board alerted authorities, triggering a large rescue operation involving ships, aircraft, and local fishing boats.

Survivors were taken to nearby coastal areas, including the provincial capital Isabela, as search efforts continued, the AP has reported.

Authorities have launched an investigation into the cause, noting the vessel had passed safety checks and was not overloaded.