RedactedNarrative: Watercraft #1 was anchored near Cows Bay when the Operator observed Watercraft #2 (a PWC) approaching his boat at a high rate of speed. Operator #2 attempted to swerve to avoid hitting WC #1, however he hit a large wave and lost control of WC #2. Operator and passenger of WC #2 jumped off before it collided with the port side of WC #1. There was moderate damage to WC #1. There were no injuries. Life jackets were being worn on WC #2 but not on WC #1. Alcohol was not a factor.