Two crewmembers have been rescued from a commercial fishing vessel that caught fire and sank approximately one mile off the coast of Santa Cruz, Calif., according to the Coast Guard.

The 45-foot vessel Navigator, which had been fishing for squid, was at anchor when it was reported to be engulfed in flames around 7:40 a.m. on Wednesday. According to officials, the two-person crew quickly alerted emergency services as the fire intensified.

Responders from Santa Cruz Harbor Patrol and Fire Boat 12 were the first on the scene, rescuing the crew and transporting them to Santa Cruz Wharf.

Although the fire was eventually brought under control by firefighting crews, the damage to the vessel proved too severe. Attempts by TowBoatUS to salvage the craft were unsuccessful. The vessel began taking on water shortly after firefighting efforts concluded and ultimately sank to a depth of 47 feet.

A first responder on the scene was taken to the hospital for smoke exposure.

According to the Coast Guard, the vessel was carrying an estimated 650 gallons of fuel, though no active discharge has been observed as of Thursday morning. Authorities, including the California Department of Fish and Wildlife’s Office of Spill Prevention and Response, are closely monitoring the site.

No timeline has been given for the recovery of the vessel or potential fuel removal operations.

“Our top priorities in any incident are safety of the public and responders and protection of the environment,” said Lt. Cmdr. Mark Leahey, Coast Guard Sector San Francisco Incident Management Division Chief. “We approach every operation with care and deliberate action to mitigate adverse impact to the environment.”

The vessel's owner is cooperating with salvage operations, while the Coast Guard continues to investigate the cause of the fire, the agency said.

The vessel's engineer, Edward Arellano, told local media that he believed the fire was triggered by an onboard generator, which he said malfunctioned and caused the boat's insulation to catch fire.

Arellano said he woke up to smoke in the cabin, prompting him to alert the vessel’s captain, Richard McCann, and begin battling the blaze until emergency personnel arrived.

The sinking has disrupted the plans of the two-man crew: Arellano was in the process of purchasing the vessel, while 82-year-old McCann was preparing for retirement, the men told Lookout Santa Cruz.