RedactedNarrative: The operator had just put his vessel in the water and within ten minutes out the engine stopped and smoke and flames started to come from the engine compartment. The operator used his fire extinguisher to put out the fire. When our Marine Patrol Officer arrived on scene, the fire was completely out. The operator was told to set his anchor and in the process lost it overboard. The MPO towed the vessel to safety. All electrical wiring was damaged.