Haimchar Police Station OC Ranojit Roy said that the ship, named 'MV Millennium', was sinking in the Haemchar upazila area on Friday evening.
However, no one was missing in the incident. Police said that 12 laborers in the ship have swarmed on the banks of the river.
OC Ranojit said on the ship's workers, MV Millennium went to Chittagong from Narayanganj on Wednesday.
"In the evening, when the Meghna crossing the Meghna in Haimchar, another vessel from the opposite direction collided with the ship."
He could not be sure about the amount of goods in the ship, he said.