Tasmania Police is continuing to investigate the sinking of two vessels with the same owner at Beauty Bay, St Helens on Thursday and Friday.
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Police said one 38-foot wooden vessel had been anchored in the bay for some weeks before being fully submerged 100m offshore on Thursday.
On Friday, police were notified about another 39-foot boat anchored nearby that had began to sink.
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The vessel sank across a number of hours before only the wheelhouse remained above water.
Police said the owner of the vessels is currently assisting police with enquiries and the removal of the vessels.
St Helens Marine Police Senior Sergeant Bidgood said the sinking of the two vessels so close together is a concern and police will be conducting further investigations into the incidents.