At least 28 Filipinos drowned after an overcrowded ferry capsized in northeastern Philippines, forcing terrified passengers to jump into the sea amid huge waves, officials said Monday. The M/B Maejan sank off the coast of Cagayan province in northern Luzon on Sunday night, the Philippine Coast Guard said. Aside from the confirmed dead, 22 other passengers of the 28-ton vessel remained missing as on Monday afternoon while 46 survivors have been rescued, the Coast Guard said in a statement. President Gloria Macapagal Arroyo immediately ordered concerned government agencies to extend all assistance to speed up the search and rescue operations in Cagayan province. Arroyo instructed the Department of Social Welfare and Development to lead the efforts to provide assistance to the survivors and the families of those who perished in the tragedy. She also ordered the Philippine Coast Guard, Navy and police to coordinate and continue conducting search and rescue operations for the missing passengers. Reports said M/B Maejan was carrying 96 passengers when it capsized, leading authorities to suspect overloading as one of the contributing factors for the tragedy. Coast Guard chief Vice Admiral Wilfredo Tamayo said the ferry was authorized to carry only 50 people. He said criminal charges will be filed against the owner and surviving crew members of the vessel. Mayor Joseph Llopis of Calayan town said many of the passengers of the ill-fated boat were from his town who were traveling to Aparri, the capital of Cagayan province, to buy food and other goods ahead of Christmas. Llopis said he lost 10 of his relatives in the tragedy. “It will be a sad Christmas for many people in my town. Many of the dead were breadwinners,” he said. The dead included a one-year-old boy and a town councilor. Moments before the boat capsized, three children fell into the sea as the vessel was hit by powerful waves, Llopis said, adding that two of the children were plucked out alive. The fate of the third child remained unknown. Police said many of the passengers jumped into the turbulent waters after strong waves destroyed the boat's bamboo outrigger, causing the vessel to flip. “The passengers panicked, grabbing anything like water containers to keep them afloat, as they jumped into the sea,” Senior Inspector Alex de los Santos said.