The first pictures have been released of the sunken Tongan ferry MV Princess Ashika, on the sea floor 86 kilometers north-west of the capital Nuku'alofa.

Radio Australia reported that the ferry sits 110 meters below the surface, with large weed-covered rocks beside it, and visible are the bow section with ramp, bridge area and passenger compartment.

A combined search by the New Zealand and Australian navies found the wreck of the vessel which sank last week with the loss of more than 90 lives.

New Zealand defense force spokesman Captain Zac Trendergast said the ferry was found by a remote diving apparatus which has been operating at the 100 meter mark, well below the safe depth for divers.

The maximum depth the divers can go is 60 meters.

Only two bodies have been recovered so far and authorities believe the bodies of the 93 passengers listed as missing are still trapped inside the ferry.