At least 18 people have died after a ferry carrying more than 350 passengers and crew members onboard sank in the waters off Philippines' southern coast.

Search crews have rescued 317 people on board the MV Trisha Kerstin 3, but at least 24 people are still missing, according to the Philippine Coast Guard.

The ship, both a cargo and passenger ferry, was on its way from the southern island of Mindanao to Jolo island when it issued a distress call at 1:50 local time Monday (17:50 GMT Sunday).

Authorities say they are investigating the cause of the sinking. The Philippines - an archipelago nation of 7,100 islands - has a long history of maritime disasters involving inter-island ferries.

Based on the account of some survivors, the waters in the area were rough at the time, Philippine Coast Guard spokeswoman Noemie Cayabyab said in a televised interview.

A video shared by the disaster management office in the southwestern Bongao Municipality shows survivors wearing life vests floating in the water as they await rescue.

Another video posted by Basilan Governor Mujiv Hataman shows survivors wrapped in blankets being helped off a rescue boat.

Rescuers reported being overwhelmed by the number of survivors being brought in, as emergency responder Ronalyn Perez noted a shortage of staff to handle the influx.

Despite past incidents attributing poor maintenance and overloading as major causes of ferry accidents, many Filipinos still rely on ferry travel due to affordability.

In May 2023, another ferry incident resulted in 28 fatalities, emphasizing the ongoing risks faced in Philippine waters.

Additional reporting by Joel Guinto.