The incident occurred around 9 p.m. Friday in the Mactan Channel about 2 miles northwest of Cebu City , the capital of Cebu province . NEW : 38 people have died and 82 remain missing , the Philippine coast guard said . NEW : 750 people have been rescued . Rescue crews continue searching for survivors . Their ferry struck a cargo ship off Cebu City in the southern Philippines .
NEW : 38 people have died and 82 remain missing , the Philippine coast guard said . NEW : 750 people have been rescued . Rescue crews continue searching for survivors . Their ferry struck a cargo ship off Cebu City in the southern Philippines .