Taiwan Coast Guard helicopters and ships rescued 13 sailors of the Panama-registered "Ta Ji" from the rough seas off Taichung harbor, said Hsieh Ching-ching, a spokesman of the Coast Guard Administration.
The ship, loaded with 25,000 tons of gravel from China's southern Guangzhou port, sank shortly after it radioed for help, Hsieh said.
He declined to confirm evening newspaper reports that the bodies of six Chinese sailors were spotted at sea.
"Rescuers have spotted lifesavers floating at sea and they are doing all they can to save any survivors," Hsieh said.