Iran Press/ Iran news: According to an emergency response official, an operation was continuing to find the missing sailor.
Two rescue vessels and helicopters were dispatched after the Al Salmy 6 went down about 48km (30 miles) from the port of Assaluyeh on Thursday.
Winds were more than 70km/h (45mph) at the time, the Iranian official said.
The operations manager of the Dubai-based company that owns the Al Salmy 6, Salem Al Makrani Cargo company, told the Associated Press that the 138m-long (453ft) car transporter had been sailing towards the Iraqi port of Umm Qasr.
The bad weather initially caused the ship to list at a precarious angle, Capt Nizar Qaddoura said, but within hours it was fully submerged.
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Iran's commercial ship sinks at Southern port