Updated 4.20pm
A RUSSIAN cargo ship listing in the Solent is being assisted by the UK Coastguard and Bembridge RNLI.
Although the vessel has developed a considerable list, it has power and and is currently stable. The vessel is at anchor in the Solent and a pilot vessel is assessing its stability and cargo.  The 13 crew onboard are reported to be safe and well.
HM Coastguard said they are currently issuing navigational safety broadcasts every half hour to warn shipping in the area and a tug and an All Weather Lifeboat are standing by on scene.
They added: "The weather forecast is poor with severe gales and rough seas expected later today.  Discussions are underway with the owners of the vessel and the vessel's agent.
"The SOSREP, HM Coastguard Commander, Duty Surveyor, Counter Pollution, Receiver of Wreck, Southampton Harbour Master and Portsmouth Duty Queen's Harbour Master have all been informed of the incident.  Further updates will be issued as the situation develops."
You can view the situation live via Isle of Wight webcams.
* Plans are now underway for the Russian flagged Mekhanik Yartsdev to be taken to a berth in Southampton Harbour. As a precautionary measure it will be assisted by a pilot vessel, two tugs and escorted by an RNLI All Weather Lifeboat.