42 passengers have been rescued from a catamaran that caught fire and began slowly sinking near Queensland‘s Lady Musgrave Island, just off the coast near Bundaberg.

Everyone on the vessel has been accounted for and are now being treated by paramedics in Gladstone.

Fire reportedly broke out in the engine room of the 23 metre long vessel around 3:50pm, no cause has yet been given for the fire.

Update: it has since been reported it was actually 46 people.

Source: The Courier Mail.

Photo: Getty Images / Ross Land.