Sinead Aherne reports
Update: 17:00
Two loose lines established from Kilmore, and Dunmore lifeboats and Rosslare now on the scene. The ship is holding, and the tug is about an hour away and en route.
Earlier: Efforts are underway to secure a ship that has lost power in bad weather conditions off the coast of Waterford.
The cargo ship, the Lily B, is 'dead in the water', drifting around two nautical miles south of Hook Head.
The 100m vessel is carrying coal.
The Waterford based Coast Guard helicopter is among those taking part in the rescue.
Dunmore East RNLI launched at 2.45pm this afternoon. They've been joined at the scene by lifeboats Kilmore Quay and Rosslare.
Around eight volunteer crew members are on board each lifeboat.
They're working in extremely challenging conditions this afternoon with strong winds and large swells.
A tug is understood to be en route from Waterford at present.
There are no reports of any injuries.