Andy Catrell, a British Cornwall coastguard spokesman said all but two of the people on board had escaped from the ship, which appeared to have struck an object.

“The Argentine and American coastguard are co-ordinating the rescue of 154 passengers from the Explorer, which is holed and are taking water down in the Antarctic, near the south Shetland Islands,” he told BBC television.

“We don’t know what the vessel struck, but it’s got a 25 degree list. We’ve heard that all passengers and crew, apart from the master and chief officer have now abandoned the vessel and are in lifeboats.”

Another vessel, the Antarctic Dream, was in the area, about one and a half hours away, he said.

British coastguard were helping by providing information about the vessel.

The ship, built in 1969 and refitted in 1993, was carrying 100 passengers and 54 crew on a cruise that was due to end by November 26.

The Explorer usually makes two-week cruises around the Antarctic, costing around $8,000 per cabin.

The South Shetland Islands lie about 120 km north of the Antarctic Peninsula. They have been part of the British Antarctic Territory since 1962, although they are also claimed by Argentina and Chile.