All crew members are safe on a fishing vessel that struck ice Sunday night, but the ship may have lost about $1 million in catch and sustained at least $1 million in damages, according to the president and CEO of an Iqaluit Fisheries Corporation.

The F/V Saputi was fishing for turbot in the Davis Strait when it ran into ice around 10 p.m. ET and began taking on water.

All 30 crew members — seven of which are from Nunavut — are safe, said Harry Flaherty, president and CEO of the Qikiqtaaluk Fisheries Corporation in Iqaluit. 

"Everybody's fine, everybody's safe, just a matter of being patient, making it all the way to Nuuk, and once they arrive in Greenland, an arrangement will be made to send them home," Flaherty said.

A Danish Coast Guard ship has reached the Saputi and is escorting the ship to Nuuk.

Major Rhonda Stevens said the Joint Rescue Coordination Centre in Halifax dispatched a C130 Hercules aircraft from 413 squadron in Greenwood, Nova Scotia, and the CCGS Louis St. Laurent icebreaker has been called to assist.

Four extra pumps were dropped off by the Hercules, which Flaherty said are currently being used to remove water from the vessel.

"Right now, the situation is under control, with the pumps that were dropped," said Stevens. "So they have all the pumps working and it's able to pump the water that's coming into their boat out."

Stevens said that other Hercules aircraft have been tasked to maintain coverage of the vessel and monitor the Saputi as it travels to Greenland.

"You deal with all kinds of ice conditions all the time and weather conditions all the time, so sooner or later some of these do happen," said Flaherty. 

"I'm just glad to say that all the crew is safe. And the ship will be able to make it back to shore and get repaired and we'll be back in business."

The ship is scheduled to arrive in Nuuk at 9 p.m.