"We are shocked and utterly devastated by what has took place," managing director Peter Sharp stated.
"We acknowledge that this has induced tremendous suffering. Our condolences go to the cherished types of people afflicted.
"While we are attempting to appreciate the awful nature of the crash, we are also staying targeted on supporting authorities as the research and rescue operation unfolds."
The firm mentioned the ferry's captain had routine radio make contact with with yet another vessel prior to the sinking and gave no indication everything was incorrect.
The lead to of the disaster was even now unclear.
Australian International Minister Kevin Rudd explained very last night that several hundred people had been rescued from the ferry.
But he warned there were still a significant range of folks lacking.
"I am suggested that many hundred individuals have been rescued. I'm further advised that a significant amount nonetheless remain lacking."
Rescue efforts, which includes by Australian boats and plane, had been getting hampered by tough seas.
Prime Minister Julia Gillard explained there was likely to be really higher reduction of lifestyle from the misfortune.
"This is obviously a main misfortune," she said. "We have been asked to offer support to PNG and we are supplying assistance to PNG."
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