Antaranews.com quoted a Riau Islands police spokesperson as saying that all victims had been taken to a local hospital for identification.
"In the last update on Friday morning the team had found 17 bodies, consisting of 15 men and two women," said Adjunct Commissioner Erlangga.
A search and rescue operation involving 14 ships, two helicopters and 261 personnel is ongoing.
Police said they have arrested the owner of the ship who tried to flee to Malaysia.
The boat sank in a storm after hitting a reef Wednesday morning off Batam Island while returning from Malaysia.
An investigation into the incident is ongoing.
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