RedactedNarrative: On 26 December 2021, V1 Owner/Operator and 3 passengers were recreationally cruising just south of NAS Pensacola heading eastbound in Pensacola Bay.  At approximately 1400 hours, the owner/operator noticed the smell of smoke.  He then turned around and noticed smoke coming from the engine area.  Owner/Operator then tried to extinguish the fire, but was unsuccessful.  A Good Sam rescued all 4 passengers, and the vessel then burned to its waterline and sunk just east of NAS Pensacola at the indicated coordinates.  The insurance company is currently trying to locate the wreckage and salvage it from the waters of the state.  No criminal charges were warranted in this incident due to the nature of the accident.