Police are continuing with their enquiries to trace two fishermen reported missing after a boat capsized off the coast of East Wemyss last night (Monday).
A report of a small fishing vessel having overturned was received at around 5pm and three men were reported missing after an afternoon of sailing amid concerns of worsening weather conditions.
A full-scale search was launched by the UK Coastguard which included a rescue helicopter based at RAF Boulmer, RNLI lifeboats from Kinghorn and Anstruther, Coastguard rescue teams from Kinghorn, St Andrews and Leven and police officers.
A man was recovered from the water and was immediately taken to Ninewells Hospital in Dundee by helicopter.
He died a short time later around 7pm.
The man has yet to be formally identified and Police Scotland is liaising closely with the families of the missing men.
The search was called off at around 9.45pm due to visibility.
A scaled-back search for the two missing men resumed this morning around 8am, with Coastguard crews from St Andrews and Leven involved.
Today (Tuesday) police confirmed they are continuing to look for two men, named as East Wemyss residents Jason Buchan (35) and David Stead (47).
The third man was named locally as Birrell Stewart.
Chief Inspector Adrian Annandale, local area commander for Levenmouth, said: “Tragically this incident has resulted in the death of one local fisherman, with two of his friends still missing.
“We have been working closely with colleagues from the Coastguard as well as volunteer lifeboat personnel and I would like to thank our partners for all of their assistance and support.
“My thoughts are with the friends and family of all of the fisherman, and with the local community at this time.
“We will look to provide further updates on our ongoing inquiry once we have more information.”
Councillor Tom Adams, who witnessed the Coastguard operation from East Wemyss’ shoreline last night, said: “This has absolutely devastated coastal communities from Dysart to Largo, because there are so many people who own boats, who go out fishing and hate anything like this to happen.”
Cllr Andrew Rodger added it was a “tragic” incident and said lessons must be learned.