Published: Sep 20, 2010 4:09 PM EDT
Updated: Sep 20, 2010 1:09 PM EDT

ST. PETERSBURG, Fla. (AP) - The owner of the boat that sank in the waters off St. Petersburg hopes to salvage the vessel.

The Coast Guard rescued three people who were clinging to the sinking boat Sunday afternoon about 1.5 miles east of the Sunshine Skyway bridge. The three were wearing life jackets when rescue arrived. All but four feet of the boat's bow was under water.

The boat's owner, 66-year-old Ramon Garza, has arranged to get the boat out. The Coast Guard says no pollution was reported.