Two cargo ships collided just outside Tokyo Bay, according to the Japanese Coast Guard.

The Panamanian-flagged Beagle III crashed into another vessel, the South Korean-registered Pegasus Prime, causing it to sink. The incident occurred southeast of the Miura Peninsula in Kanagawa Prefecture.

Of the 20 crew members -- all of whom are Chinese nationals -- aboard Beagle III, 12 have been rescued and eight are still missing.

The location of the collision, which occured in the early hours of Tuesday morning

Of the rescued crew members, six have slight injuries while one is "seriously injured," according to a statement released by the Chinese Embassy in Tokyo.

The seriously injured crew member was taken to the nearby Miuraa City Hospital, where he is in a "state of cardiopulmonary arrest."

The 14 crew aboard the other vessel, Pegasus Prime, are all accounted for, according to the Coast Guard, which has boats and helicopters on the scene.

The two ships collided at 3:20 a.m. Tuesday.

(Source: CNN)