WATCH: men rescued after fishing boat sinks off Shellharbour

Three fisherman are in “very good” spirits after they were rescued from freezing waters when their boat sank more than 20 kilometres off Shellharbour.

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Three fisherman have made a lucky escape after they were forced to flee their sinking fishing trawler and take refuge in a tiny life raft more than 15 miles off the south coast.

The fishermen, aged 25, 40 and 45 were winched from freezing waters of Bass Point south of Wollongong on Wednesday morning, after their fishing expedition took a turn for the worse.

Three people have been rescued after their boat capsized off Bass Point, Shellharbour, on August 5.

The commercial tuna fisherman were headed to Ulladulla from Coffs Harbour when the engine room of their 22-metre trawler ‘Sensation’ started rapidly filling with water.

“They heard a noise [on the boat] and went to investigate and within minutes the engine room was full of water,” NSW Water Police Seargent Sean Netting said.

“As far as where the water was coming from they weren’t sure.”

The younger of the three men said he was “cold” when asked how he was feeling.

Despite the terrifying situation, the fishermen remained calm and activated their Emergency Position Indicating Radio Beacon (EPIRB) while the owner of the boat made calls to local police.

A rescue operation was launched by the NSW Police Force Marine Area Command within a few short minutes, and a specialist team from Toll Rescue sent to sea to rescue the men.

By the time the two helicopters arrived the men had abandoned the vessel and had taken refuge in a small, bright red life raft which they’d packed full of supplies.

“They did everything right,” Sergeant Netting said.

“They knew what to do, they waited until just before the boat was sinking before deploying to the life raft.”

The three men were winched to the safety of two helicopters after spending just minutes floating in the water, battling two-metre swells and strong winds.

The trio were flown to a reserve in Shellharbour where they were assessed by paramedics.

When asked how they were feeling, the 25-year-old man responded with “cold”.

The men walked from the chopper in foil blankets.

Wrapped in foil blankets, the trio were taken to Shellharbour hospital for a check-over, while local paramedics praised their efforts.

“They were thankfully uninjured,” NSW Ambulance Inspector Matt Sterling said.

“It’s a very good outcome for everyone involved, the vessel was well equipped with emergency response equipment, they activated early [and indicated] they required assistance and so we were able to get there in a timely manner.”

Inspector Sterling said given the conditions the rescue could have had very a different outcome, but noted the man were in high spirits when they arrived back on shore.

“They were really good, obviously cold, they’d been in the water a short period of time, but yes, very cold,” he said.

“Obviously this time of year, anyone who’s in the water for a long period of time hypothermia becomes a concern, but they are doing well.”

While the men were “happy to be alive and out of the water” Sergeant Sterling said their fishing boat was in a very different state.

“It’s at the bottom of the ocean now,” he said. “Part of the reef.”

Investigations into how and why the boat sink are continuing.