Shortly after 9 o’clock this morning Valentia Coast Guard was alerted to a vessel in difficulty approximately 60 miles South West of Mizen Head.
The UK registered fishing vessel Piedras was reported to be taking on water and had lost propulsion.
The Shannon based Coast Guard helicopter R115, was immediately tasked to the scene as was an Air Corps Maritime Patrol Aircraft and the LÉ Samuel Beckett.
A second Coast Guard helicopter R116 was placed on standby at Cork airport.
Shortly after raising the alert the crew of 11 decided to abandon the vessel and transfer to another fishing vessel the Armaven. No injuries were reported.
Early this afternoon, the vessel sunk in the area where it was initially reported to be in difficulty.
Lé Samuel Beckett remained on scene to monitor the situation. It is expected that the Armaven will proceed to Castletownbere to disembark the crew members of the casualty vessel.