Valentia Coast Guard is coordinating a rescue operation after a fishing vessel got into difficulty sixty miles south west of Mizen Head.
The alarm was raised after the vessel which has a crew eleven was reported to be taking on water and had lost propulsion.
Rescue helicopter R115 was dispatched to the scene and the crew of eleven have abandoned the vessel and are safely onboard another fishing vessel.
The casualty vessel is on fire.
R115 and the Air Corps remain at the scene with Valentia Coastguard overseeing the operation.