One seafarer has died and two others were reported missing after an Iranian general cargoship sank in the Middle East Gulf.

The state IRNA news agency said the 650-dwt Behbahan (built 1970), owned by E Nassari & F Nezarat, went down in Iraqi waters overnight on Friday.

It cited Iran's Maritime Safety and Port Protection Organization director Nader Pasandeh.

Four other crew were rescued, the official said.

The two missing seafarers are Iranian and Indian nationals.

Video footage released by official Iranian news sources shows the ship taking on water and going under as coast guard forces look on.

The 48-metre vessel was loaded with construction materials and ceramics bound for Umm Qasr in Iraq from Khorramshahr in Iran.

It was said to have sunk while transiting the Khor Abdullah canal between Iraq and Kuwait.

Iran is consulting with Iraqi authorities to dispatch a team of experts to investigate the incident.

Iraqi coast guard forces continued a search and rescue operation on Friday.