their yacht started taking on water some 350 miles northwest of Bermuda.

According to Harbour Radio, the US-registered Aries Won was sailing from Bermuda to Mystic, Connecticut when it hit a submerged object at around 3 a.m.

and began taking on more water than the vessel's pumps could handle.

Soon after, the couple, identified as Calvin and Heidi Faeron, sent a distress call to the US Coast Guard in Portland, Maine and began preparing their liferaft.

Just after 4 a.m., the Coast Guard in Portland sent out a Falcon jet, which dropped an emergency beacon in the area of the now-abandoned craft. At 6.46 a.m., the Faerons were safely plucked from their raft and taken aboard a US Coast Guard vessel.

The 44-foot Aries Won arrived in Bermuda from St. Thomas on April 28 and departed for Mystic on May 25.

According to Harbour Radio, she did not sink as a result of the accident and was not reported to be drifting.