Three crew members of the tug supply vessel Bourbon Rhode have been rescued off the Caribbean but a capsized fast rescue craft has been spotted.

The vessel owner Bourbon Offshore said in its latest update that the capsized fast rescue craft was spotted first by an aircraft of the American National Hurricane Center and then by the vessel Falcon 50 owned by the French Navy.

A commercial vessel engaged in the operation is on its way to try to recover the rescue craft.

On Saturday night, rescue teams recovered a lifeboat with three crew members on board.

The three crew have been placed under medical observation having been seen to by a medical support team on board a commercial vessel that provided assistance.

Bourbon said it had been confirmed the Bourbon Rhode vessel had sunk.

The rescue efforts have the full support of Cross AG (Regional Operational Center of Surveillance and Rescue) and the French navy, under the authority of the Prefect representing the French national maritime authority.

Five commercial vessels have changed course to assist the rescue teams. The Falcon 50 and NHC aircraft conducted numerous overflights of the search area.

The French navy’s surveillance frigate Ventose and the Panther helicopter were scheduled to intervene on 30 September.

The company said it would publish another update soon.

Bourbon said on Thursday its vessel was in transit 1200 nautical miles off Martinique island and 60 nautical miles south-south east from the eye of Hurricane Lorenzo, a category four system.

At the time, Bourbon said the 14 crew members were facing water ingress in the rear of the vessel.

The report of the troubled vessel came after Bourbon released its half year financial results on Thursday, revealing a net loss of €135.2 million ($147.7 million) for the six months to 30 June, a reduction on last year’s €197.1 million loss over the same period.

The reduced losses came as Bourbon generated adjusted revenues of €361.5 million, up 6.3% on the prior year.

Helping boost revenue was an increase in the average day rate, from $7888 per day to $8219 per day, while the average utilisation rate rose from 52.7% to 54.5%.

This came as the company’s total fleet also reduced from 505 vessels to 472 vessels.