"The rescue team has found 41 survivors from a total of 250 total registered passengers," the agency said.
The Teratai Prima ferry, which was also carrying 17 crew members, sank in rough waters off the coast of Majena in West Sulawesi early on January 11. Most passengers were still asleep when the accident occurred.
Senior officials said there was little hope any more of the missing passengers and crew would be found alive.
Only two bodies have so far been recovered, a six-year-old girl and a woman. The ship's captain was among the survivors, local media reported.
A search operation, involving naval vessels, military personnel, police, and Red Cross officials, is continuing in a scaled-down form.
In late December 2006, around 500 people died when a ship sank in a storm off central Indonesia.
