The MV Hong Wei with a cargo of 40,000 tons of nickel ore, sank Saturday off the northern Philippines. Fourteen crew were rescued and ten remain missing. The ship was Panamanian flag and had a Chinese crew. The Hong Wei is the second bulker carrying nickel ore to sink in the Pacific in the last month. On November 11th, the Nasco Diamond loaded with 55,000 tonnes of nickel ore from Indonesia to China sank off the southern coast of Japan.