SOUTH NYACK, N.Y. -- One person is dead and two others are missing after a tugboat accident early this morning on the Hudson River, near the construction site of the new Tappan Zee Bridge.

At around 5:15 a.m. Saturday, a tug boat pulling a barge with a crane on it, crashed into a barge at the construction site of the Tappan Zee Bridge.

The tug boat, called The Specialist, sunk within minutes, with three people aboard.

One person was recovered and later pronounced dead. The victim has been identified as 62-year-old Paul Amon, of Bayville, New Jersey. 

Two others remain missing.

The tugboat was heading from the Albany area to Jersey City when it crashed into the Tappan Zee barge.

"Obviously this is just a tragedy," said Gov. Andrew Cuomo. "It's just a tragic accident."

Law enforcement officials say an extensive search is underway for the two missing. They say using a sonar, they were able locate the tug boat, which is about 40 feet underwater. 

Once the current slows down and the tug boat appears to be stable, divers will then hit the water.

"Not only the stability for the recovery of possibility victims on the boat, but also in order retrieve the vessel at a later time," said Rockland County Sheriff Louis Falco. 

And as the tug boat sits at the bottom of the Hudson River, the governor says it is also leaking about 5,000 gallons of fuel into the Hudson River.

The DEC is on scene working with private contractors to cleanup the spill.

"It's not a good situation clearly, but we don't expect  at this time any long term damage," Cuomo said.

Meanwhile, Cuomo says the 13 people working on the Tappan Zee Bridge barge at the time of the crash escaped unharmed.

As for the bridge, only minor damages.

"We'll be seeking water temperature, wind, current, tide, those are all important as part of what we would do as part of the accident investigation," Falco. 

No word yet on what caused the crash as the investigation continues.