Kinsale yachtsman Alan Mulcahy's recently arrived First Class 8 'Black Magic' yacht has been lost after a fire on board the boat at the weekend. 

The yacht went up in flames and sank off Ringabella, just outside Cork Harbour on Monday afternoon during a scheduled delivery trip back to Mulcahy's home port of Kinsale Harbour in West Cork.

The dramatic scene was witnessed by nearby boats and people on the shoreline.

The smoke plume clearly visible from the shore. See videos below

The yacht had competed in October's recent AIB Royal Cork Yacht Club Autumn Series and this month's O'Leary Insurances Winter League and was due to be lifted out and stored ashore for the winter at Kinsale Boatyard.

Black Magic on fire following a problem with the outboard engine. Photo: courtesy Cian O'Connor

Mulcahy, the only person onboard the boat at the time of the incident, told Afloat that he was approximately an hour into his trip when he heard a bang and saw the vessel's outboard engine on fire.

Mulcahy, who is a very experienced sailor with over 30 years experience and Yachtmaster certification, put out a mayday call via his VHF radio that was answered by a nearby trawler who relayed the message to the Coastguard.

Mulcahy said he made his way to the bow of the boat as flames engulfed the cockpit area.

Fortunately, a nearby 20-foot opening fishing boat, the Annabella, skippered by Mick Hoey and crewed by Cian O'Connor, saw the flames and rescued Mulcahy from the burning fibreglass vessel.

Alan Mulcahy's recently arrived First Class 8 'Black Magic' that went on fire and sank off the Cork coast Photo: Bob Bateman

Mulcahy said that the yacht sank shortly afterwards. He was then transferred from the Annabella and taken ashore to Crosshaven by a Port of Cork RIB skipped by Kieran Coniry.

Mulcahy expressed his deep gratitude to all involved in the rescue including the Coastguard, the fishermen on board Annabella, the Port of Cork RIB crew and Gary Heslin of the Crosshaven RNLI and the staff and doctors who then assessed him for smoke and fire inhalation.

It is the second incident to befall racing yachts at Cork Harbour this winter, with a J109 ending up on the rocks in the last race of the Royal Cork league as Afloat reported here. 

• Fisherman Mick Hoey spoke to Joe Duffy on RTE Radio One about how he and crewman Cian saved Yachtsman Alan Mulcahy here