Sydney: At least one person has died, and more than 30 remain missing after a ferry sank off the coast of Vanuatu, the South Pacific nation's government said Sunday.

The MV Matui was carrying more than 40 passengers and crew when it departed the island of Santo for Ambae on Friday amid very rough seas. The vessel failed to reach its destination.

Fifteen people on board have been "accounted for alive", while one body has been recovered, the office of Vanuatu Prime Minister Jotham Napat said in a statement.

"Our hearts and prayers are with the families who have lost loved ones. Search and rescue operations are continuing," the statement said.

More than 30 people are still missing at sea, according to the government.

An investigation has been launched into possible negligence surrounding the ferry disaster.

"This loss appears to be the result of strong winds and marine warnings not being heeded, and possibly of negligence including overloading of the vessel," the statement said.

The Maritime Rescue Coordination Centre in Noumea, New Caledonia, is assisting the search operation. A French Armed Forces aircraft was deployed on Sunday morning as part of the effort.

The rescue centre said 12 people were located on Sunday morning.

Matai Seremaiah, the member of parliament for Luganville who is assisting with the search, said rescue teams would focus on the southeast coast, where ocean currents may have carried survivors.

The search and rescue operation remains underway as authorities work to establish the circumstances surrounding the sinking.