The Miss Johana Betsy set off on June 29 from the Corn Islands, a Nicaraguan territory, Edward Jackson of the country's fisheries authority was quoted as saying by state media.
They said the navy and four fishing boats were preparing to start searching for the vessel.
In January 2016, 13 Costa Rican tourists died when a passenger vessel sank off the Corn Islands.
In July 2016, authorities rescued 61 people from a fishing boat that sank in Nicaraguan waters in the Caribbean.