was close to the eye of joaquin, near the bahamas when it disappeared. with me now is captain mark fidor, chief of response for the coast guard's seventh district. thank you for being with us. >> you're welcome. >> all right. what can you tell us, what is the latest? >> the latest is, we've been searching pretty aggressively for two days looking for the ship, and this afternoon, late this afternoon, we did identify a life ring with the name of "el pharaoh" on it. it was located about 70 miles to the northeast of the vessel's last known position. so we don't know exactly what this means, because sometimes ships can lose life rings, but it helps us recalibrate our search effort, knowing we're looking in the right place. >> if i'm a family member, is that good news? >> it's good news in that it helps validate our search effort. we were frustrated today that we did not locate the vessel.