The ship was travelling from China to Albania, Cochin Port officials said Sunday.
It started sinking Saturday evening. All 15 crewmembers including ten from India and five from Albania were rescued.
Two tugs of the Cochin Port Trust removed the ship from the site because it was on the international shipping route, Captain C.P. Jerry of Cochin Port told reporters.
After conducting an aerial survey, navy officials reported that the ship has fully sunk and there is no risk of environmental pollution. The reasons behind the mishap are not known.
But local reports said oil has spilled around the place of the shipwreck.
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