The latest discoveries bring the death toll to 17 fishermen, as the search continues for ten more people missing since Sunday's accident, according to Abdel-Rehim Mustafa, spokesman for Egypt's Red Sea Port Authority.
Mustafa said that no bodies had been found inside the boat, based on video footage taken after the boat was located at the bottom of the Red Sea.
Since Sunday, rescuers have found 17 bodies while also rescuing 13 who had been among 40 fishermen aboard the ill-fated vessel at the time of the accident.
Earlier Tuesday, Egyptian prosecutors detained the ship's captain and his assistant pending investigation into charges of involuntary manslaughter and criminal negligence in connection with the incident, a judicial source said.
Two other crew members have since been released, according to the source.
The ship, which has been confiscated by the authorities, is Kuwaiti-owned. It had been en route to Saudi Arabia's Jeddah seaport from Italy via the Suez Canal, according to a maritime source.
The source added that the ship had been carrying 265,000 tons of cargo, including highly-flammable materials.
On Sunday, a boat carrying 40 fishermen sank in the Red Sea's Gulf of Suez after crashing into a cargo ship.