LEGAZPI CITY, Philippines—President Gloria Macapagal-Arroyo is set to visit Masbate province Thursday afternoon to award insurance money to the families of the victims of the ill-fated MB Don Dexter Cathlyn, an official of the Maritime Industry Authority (Marina) said.

The motor boat was ferrying passengers from Dimasalang, Masbate to Bulan, Sorsogon when it capsized.

Lucita Madarang, Marina-Bicol director, said Arroyo will hand out P200,000 for every casualty.

The presidential chopper is expected to land in Masbate at 2 p.m. Thursday, Madarang told the Philippine Daily Inquirer by phone.

She said the excess passengers, or those not included in the manifest, are not covered by the insurance.

A total of 119 passengers were officially recorded said Senior Superintendent Reuben Sindac, Masbate police director, but the Philippine Coast Guard in Bicol accounted 151 passengers—including those who died, survived, and are still missing.

In a list sent to the Inquirer, Captain Henry Caballero, PCG-Bicol said there were 42 dead, nine missing, and 100 survivors as of Wednesday noon.

Documents from the Marina showed that the wooden 13.73-ton MB Don Dexter Cathlyn, owned by a certain Amiel Tamayo, only had a passenger capacity of 100.

Recalling the tragedy, survivor Pedro Bultron of Palanas, Masbate said a sudden strong wind struck the boat causing it to capsize.

"We were crowded inside," Bultron told the Inquirer by phone. "Some passengers were already standing. Maybe the boat lost its balance," he said.