RedactedNarrative: On 11/14/15 at approximately 0800 hours V1, a rental boat, headed south from Summerland Key on a fishing trip.  At approximately 1000 hours V1 began taking on water.  The operator stated he made distress calls on vhf radio without a response.  V1 sank in approximately 600 feet of water.  The operator and occupant attempted to stay afloat holding onto a cooler.  The occupant became non-responsive and separated from the cooler.  At approximately 1245 hours USCG Cutter Confidence, enroute to Key West, observed and picked up the operator clinging to the cooler 10 nm south of Sugarloaf Key.  A search for the occupant was initiated at approximately 1250 hours.   At approximately 1610 hours the body of the occupant was found about 2 nm southwest of the operator's location.  The operator and occupant were transported to USCG Station Key West. V1 was not recovered.   Without recovery of the vessel it cannot be determined to actual cause of vessel taking on water.; 
   