HONG KONG—Hong Kong officials said they had found no signs of life in a tugboat that sank after a collision two days ago, and were continuing attempts to rescue 18 missing Ukrainian crew.

“We haven’t had any response from within” the vessel, said Roger Tupper, the head of Hong Kong’s Marine Department said at a press conference broadcast live on television Monday. Divers “have been continuously knocking on the hull of the vessel to try and see if there’s any response.”

The tug was lying upside down on the seabed 37 meters deep after the collision with a Chinese bulk carrier at about 9:13 p.m. on March 22. Seven of the tug’s 25 crew members were rescued, while no one was missing or injured from the carrier, according to the government.

Medical experts believe that the missing seamen could have survived for about 12 hours, a quarter of the time they have been lost, Tupper said.

“We will continue the search-and- rescue operation,” Chow Wing-tak, chief fire officer of Hong Kong Island, Islands and MarineCommand, said Monday. Chow said a salvage operator from mainland China may assist the search, without providing details. (Bloomberg)

DP World to expand Chinese capacity

SHANGHAI—DP World Ltd., the Dubai-controlled port operator, aims to boost its container-handling capacity in China by 30 percent this year because of the country’s surging trade growth.

HONG KONG—Cathay Pacific Airways Ltd., Asia’s third-largest air-freight carrier, will invest HK$4.8 billion ($618 million) in a cargo terminal at Hong Kong airport, as China’s surging exports boost air-freight traffic.

NEW YORK—Carnival Corp., the world’s largest cruise-line company, said first-quarter profit fell less than analysts estimated after fuel and other operating costs were lower than the company expected.

HONG KONG—Hong Kong officials said they had found no signs of life in a tugboat that sank after a collision two days ago, and were continuing attempts to rescue 18 missing Ukrainian crew.

NEW YORK—Marathon Acquisition Corp., a New York-based takeover company, agreed to buy 66 percent of containership-owner Global Ship Lease Inc. in a transaction the companies valued at about $1 billion.