Authorities have warned vessels traveling in the area to exercise caution, as parts of the sunken vessel are floating.
The "Holhudhoo Boat", which caught fire while transporting goods to Thaa and Laamu atolls, has sunk, while the search continues for the man went missing in the incident, Maldives National Defence Force (MNDF) said.
According to MNDF, the vessel sank at 2:07 am early this morning.
Authorities have warned vessels traveling in the area to exercise caution, as parts of the sunken vessel are floating.
Out of approximately 18 people on board, 25-year-old Ali Mushfiq from Laamu atoll Maavah, went missing in the incident.
MNDF has deployed Coast Guard Ship Ghaazee, FIC Maafaiy, HP 114, divers, and troops from the MNDF Central Area Command to conduct search operations.
Additionally, Airco drones are being used to aid the search efforts by sea, air, and underwater dives.
The vessel caught fire while traveling near Kandoodhoo on its way to Male'. Reports indicate that it was operating on a lease basis at the time of the incident.
Two individuals one Maldivian and one expatriate sustained injuries in the fire. They were initially treated at Kandoodhoo Health Centre in Thaa atoll before being transferred to Dhaalu atoll Kudahuvadhoo for further medical care.
A health centre official said that although their injuries were not severe, both individuals were in shock following the incident.