All 12 crew have been rescued from a cement carrier that sank off Mexico on Thursday.
The 3,400-dwt Duban (built 1983) went down about 24 km off the port of Huatulco, domestic media reported.
The Diario Marca newspaper said the navy picked up the 12 seafarers.
The Togo-flagged vessel was carrying 1,500 tonnes of cement to the port of Manzanillo at the time.
The navy said Duban suffered a flooded engine room.
Two naval ships were sent to the scene after an alert was issued. This involved a defender-class vessel and an interceptor patrol boat.
The seafarers are citizens of Nicaragua, Peru, Honduras, Panama and Tanzania. They were said to be in good health and have received a visit from navy medics. They will now be repatriated.
An emergency response plan was activated to contain any potential oil spill. The last AIS update from the ship was on 16 February.
The Duban is listed as operated by Rimac Sea River Shipping of Peru.
The vessel's class was withdrawn by Columbus American Register last October.
The ship was last detained by port state control inspectors in Lebanon for three days with 24 deficiencies in January 2017, under different ownership and management.
Grounds for detention included an expired safety management certificate, deficient rescue boat equipment and improperly maintained watertight covers.
