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Stop the engine.
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Steer the boat up against the wind, if possible.
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Make sure all passengers have life jackets.
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If necessary:
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Evacuate the passengers.
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Call for sea rescue.
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Shut off fuel and main power switches.
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Extinguish the fire.
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Wait until fully certain that the fire has been extinguished before opening the engine cover.
Carefully open the engine cover and be prepared to use the handheld fire extinguisher if necessary for post-fire extinguishing.
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Put out possible smoldering fires with water.