The Isle of Wight firm that owns the sunken cargo ship, Verity, has released a statement after the tragedy.

MV Verity and MV Polesie collided on October 24, southwest of the Island of Helgoland.

Verity sunk, leaving one crew member dead, four missing and two rescued.

The statement today said: "Faversham Ships are heartbroken and saddened to confirm that the German Maritime Rescue Coordination Centre have called off their search and rescue operations and that despite the best efforts of all involved four missing crew members remain unaccounted for.

"Earlier during the course of the search and rescue, one crew member was recovered and sadly confirmed deceased.

"This terrible loss is devastating for their loved ones and for all members of the Faversham family.

We wish to express our deepest condolences and heartfelt support to their family and friends in this difficult time.

"Our two surviving crew remain in hospital. We wish them a full and speedy recovery and will continue to support them and the families of all the crew at this time.

"We wish to thank all those who have been involved in the search and rescue efforts and assisted us in the past days.

"We continue to work with the relevant authorities in the ongoing investigations and are otherwise unable to comment on the matter at this time."

The County Press understands that none of the crew were from the Island.