Ship Carrying About 200 Asylum Seekers Capsizes Near Christmas Island

Updates to this breaking story will be made accordingly...
A ship carrying about 200 passengers has overturned in the waters midway between Indonesia and Australia. The fates of many onboard are still unknown, but this is believed to have been another attempt to reach Australia to seek asylum.
A merchant vessel was sent to the site of the wreck by rescue officials to pick up survivors, as well as an Australian naval ship. Additionally, an Australian Defence Forces aircraft has arrived at the location and released four life craft capable of carrying a total of 60 people. Indonesia is also sending two warships to support Australian rescue efforts and has sent notice to all cargo ships passing near the area to help.
Local reports claim that the rescue ships on scene have picked up about 110 survivors so far, but this has not been confirmed. Police reported seeing about 40 people on the hull, and the rest in the water; the earliest news reports suggest that as many as 75 people could have drowned, again unconfirmed. There are visible bodies in the water, most likely dead.
Authorities are still unclear about the total amount of people that were onboard the ship when it capsized, as it is common practice to board illegally in countries like Indonesia. Officials think the ship had 200 to 210 people aboard at the time of the incident.
The vessel is 110 nautical miles northwest of Christmas Island – an Australian territory that is closer to Indonesia and in their designated search-and-rescue area. It is a popular target for a growing number of asylum seekers, many from Iran, Afghanistan and Sri Lanka, who attempt to reach Australia on overcrowded boats from Indonesia.
Details are still developing at this point, but authorities have unfortunately stressed that there does seem to be a significant loss of life at sea.