Two men survived their boat catching fire in Melbourne's Port Phillip Bay on Wednesday afternoon by jumping into the water before being plucked to safety, police say.
Emergency service crews were alerted to the fire in the water off St Kilda, in the city's south-east, just after midday.
A Victoria Police spokesperson said the two men aboard, a 61-year-old Neerim South man and a 59-year-old from Merricks, were travelling from Sandringham to Docklands when the engine room started emitting smoke.
The two men jumped from the motor cruiser into the water after the fire suppression system failed, and before it was engulfed in flames.
However, the men were fortunate to be rescued by what authorities called "an armada" of nearby boats and personnel responding to the emergency.
The army, Victoria Police, Australian Border Force, Fire Rescue Victoria, the Coast Guard, Port of Melbourne and several private boats were on site to assist.
The spokesperson said army personnel who had been training nearby plucked the pair to safety, and they were brought onshore at Williamstown Pier before being checked over by paramedics.
"Thankfully, both were uninjured," the spokesperson said.
"They managed to grab a life jacket each as they abandoned the burning boat which helped them stay afloat."
Water Police and a Border Force vessel which had been nearby, helped bring the men to shore after they had been in the water for 10 to 15 minutes.
Victoria Police Inspector James Dalton said the men were lucky to escape the burning boat with their lives.
"They're extremely lucky, the boat could have exploded, they could have been trapped in a cabin,” Inspector Dalton said.
"Out of all the places for things like that to happen, [the best place] is probably off St Kilda on a Wednesday afternoon where there’s not much wind."
The men were taken to shore, where Inspector Dalton said they appeared to be suffering from the beginning stages of hypothermia.
"I spoke to them when they got back to shore, they were both in shock," he said.
Inspector Dalton said the boat was the "pride and joy" of both men, who were incredibly upset over the fire.
Fire Rescue Victoria commander Kieran Lenehan said firefighters extinguished the blaze, but the boat sank due to extensive damage.
"Fire Rescue Victoria are still on scene and working with Ports Victoria and private contractors to ensure any debris or any contaminants are being contained and managed correctly," he told ABC Radio Melbourne.
He described the fire on the 44-foot cabin cruiser as "fairly significant".
"If I can ask that the community stay away from the scene for now, that would be most helpful," Mr Lenehan said.
Victoria Police's Marine Investigation Unit took statements from the men and will investigate the circumstances of the fire, which is standard practice.
Authorities said the boat had been serviced on Tuesday.
Divers could be sent to investigate the shipwreck, which sank in 18 metres of water, in the coming days.
