VICTORIA -- A vessel that is sinking off the shores of Deep Bay, north of Parksville, is set to be pulled from the island harbour this week.

A local resident says that the boat has been anchored off Deep Bay for the past 10 years. However, it recently sunk due to windstorms, the resident said.

A salvage company that is assisting the Canadian Coast Guard with removing the boat says multiple organizations have attended to the site.

Bill Coltart, managing director with Colmor Marine Group Inc., says the coast guard was alerted to the sinking vessel on Monday.

One day later, the Western Canadian Marine Response Corporation travelled to Deep Bay to address the sinking boat. A diver plugged vent holes in the vessel Tuesday morning and booms were set up in the area. However, Coltart estimates that some planks on the ship lifted since it began sinking, causing the boat to fill with water.

While the vessel may be sinking, the salvage company says it did not see much fuel leaking from the vessel as of Tuesday.

Colmor Marine Group has been setting up lifts and pumps in the bay to get the boat in a position where it can be towed.

The company and the coast guard returned to the site Wednesday to reset some water lift bags. Coltart says the vessel is now ready to be towed back to shore to Colmor Marine Group’s salvage yard in Union Bay.