Ustel said 172 people had so far been rescued, while search and rescue operations continued to evacuate the remaining passengers and crew.
Turkey’s ambassador to Nicosia, Ali Murat Basceri, also confirmed that there had been fatalities but did not provide a figure. He said the “large majority” of the 259 passengers had been rescued.
The cause of the ferry’s capsize was not immediately known.
The incident occurred shortly after the vessel departed from Kyrenia, in Northern Cyprus, bound for the Turkish port of Tasucu.
Images broadcast by Turkish television showed the ferry overturned in the water, with passengers wearing life jackets and sitting on top of its orange hull.
Several boats were seen in the area assisting with the rescue operation, while the weather appeared sunny at the time of the incident.
Rescue Operations Underway
The Turkish Republic of Northern Cyprus Health Ministry said preparations were being made for an immediate response by rescue and health services.
It said hospitals across the territory had been alerted and were ready to provide medical assistance to rescued passengers who might require treatment.
The Turkish government also pledged support for the ongoing rescue operation.
Turkish Vice President Cevdet Yilmaz said on X that Turkey was providing all necessary assistance to the search and rescue efforts.
The Turkish Republic of Northern Cyprus is recognised only by Turkey and controls the northern third of the island of Cyprus.
Cyprus has remained divided since 1974, when Turkey occupied the northern part of the island following a Greek Cypriot coup backed by Athens that sought union with Greece.
The territory maintains regular air and sea connections with Turkey and is heavily dependent on Ankara for political and economic support.
Turkish President Recep Tayyip Erdogan is scheduled to visit Northern Cyprus on Monday to meet its president, Tufan Erhurmann.
The visit is expected to be Erdogan’s first to the territory since 2023.