Rescue operations are continuing and officials warn the toll may rise.
Passengers reportedly threw themselves into the sea as the vessel got into trouble and Italian officials were quoted as saying that dozens of people were still in the water.
There are reports that a fire broke out on board, before the boat sank.
Local media reports say that at least one child and a pregnant woman are among the dead.
Earlier this week, 13 migrants drowned while trying to reach the coast of Sicily.
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