A FISHING boat has sunk and another been badly damaged after colliding with an unknown object two miles off Falmouth.

The three crew of the sunken vessel were rescued by a pilot boat, which happened to be nearby at the time.

The boat The Lady Hamilton from Helford is owned by the Bean family from St Martin near Helston but now rests in 22 metres of water.

The skipper of the boat Christopher Bean said his family were all very shocked but he and the other two crew members, one of whom is believed to be his sister were OK.

The incident happened at about 6.30am this morning when the boat struck an unknown object in the water. The boat's wheelhouse was destroyed in the impact and radio communications were knocked out. The crew alerted the coastguard by mobile phone.

The crew of the pilot boat Arrow, Michael Tuffrey and Allen Stevens picked them up. They tried to take the boat in tow but it sank soon after.

The three crew members of The Lady Hamilton were brought ashore safely by the all-weather lifeboat from Falmouth.

At around the same time another vessel with a one man crew also hit an unknown object and severely damaged its bow.

The Blithe Spirit managed to stay afloat and limped back to Falmouth Harbour.

The skipper suffered cuts and bruises in the incident and was treated at the minor injuries unit in Falmouth Hospital.

Falmouth Coastguard said it had been warning vessels about the reports of a tree in the water and one had been pulled from the sea following the incident.