Gold Coast Water Police assisted two men who were forced to abandon their vessel after it caught fire off the Gold Coast last night.
Around 6.10pm police received a report of a fire onboard a 52-foot vessel, around four nautical miles off Mermaid Beach.
The two men onboard fled the boat into a dinghy before activating an EPIRB and flares.
The vessel was fully engulfed by fire when water police arrived.
Officers transported the two men back to shore, where a 63-year-old man was transported to the Gold Coast Hospital with smoke inhalation.
Other agencies assisted in attempting to recover the boat, however, it later sunk at sea.
Investigations into the cause of the fire are ongoing.
Anyone with information which could assist with this matter should contact Crime Stoppers anonymously via 1800 333 000 or crimestoppers.com.au 24hrs a day.
Crime Stoppers is a registered charity and community volunteer organisation working in partnership with the Queensland Police Service.
For all non-urgent police reporting or general police inquiries contact Policelink on 131 444.