This in from the Maritime and Coastguard Agency (MCA) in their own words. Ed
Three people were accounted for after the speedboat they were in began to sink in the Solent last night (Thursday).
UK Coastguard received a radio message just after 5:30pm from a passing yacht, reporting debris in the water and that they could see a partly submerged speedboat off Gilkicker point, Gosport, Hampshire.
Adult and child rescued
An adult and a child were recovered from the water by a passing vessel.
They were taken to the RNLI station at Cowes, where they were met by a RNLI crew member and Coastguard Rescue Officers from the Newport and Needles Coastguard Rescue Teams before being handed into the care of the Isle of Wight ambulance service.
Search for other person
A full scale search was coordinated by the Coastguard to locate the unaccounted for person.
The Coastguard Search and Rescue Helicopter based at Lee-on-Solent, Gosport independent lifeboat, Ryde independent lifeboat and the Coastguard Rescue Team from Hillhead were all sent to the area along with Hampshire Police.
The unaccounted person was located in Gosport, Hampshire after swimming ashore.
The speedboat has now been recovered and towed back to shore.
Importance of DSC VHF radio
Craig Needham, UK Coastguard, said:
“Fortunately for the people involved there were vessels in the area that alerted us to the sinking speedboat. If we were not made aware there could have been a very different outcome.
“It really is important that if you own a boat you get a DSC VHF radio so that you can raise the alarm if the worst should happen. A Personal Locator Beacon is also a useful and simple method for raising an alert particularly if the electrics fail.”
