At about 1040 p.m. Invercargill Police were notified via Bluff Fisherman's Radio that a recreational vessel had capsized near to Ruapuke Island and three survivors had been rescued by a Bluff fishing vessel.
The skipper of this vessel took the three survivors to Ruapuke Island.
There were two persons on board the vessel who are still missing and a search and Rescue operation is being conducted and run from Invercargill Police Station.
Bluff Coastguard and local fishing vessels are currently searching the area for the two missing persons.
A Southern Lakes helicopter with night vision equipment has been dispatched to take the three survivors from Ruapuke Island to Southland Hospital.
An air search is also currently in progress.
There will be more updates to follow.