A Vancouver man suspected of stealing a charter vessel from Granville Island marina was arrested late Friday following a high seas pursuit.

Police credited several tugboat and ferry operators with aiding in the search.

On Friday morning, someone went into the Granville Island marina, backed the 52-foot "Rosella III" out, and headed into English Bay, according to Vancouver police.

The boat's owner reported the vessel missing later in the afternoon. The Vancouver police marine unit broadcast a description of the vessel to the boating community from Vancouver to Nanaimo.

About 6:30 p.m., a tugboat operator heading into the south end of the Fraser River saw a debris field in the water. It turned out to be a life raft, deck chairs, life rings, documents and other items from the Rosella III.

The Joint Rescue Coordination Centre in Victoria was notified and a full-scale search was initiated by the Coast Guard.

At about 7:45 p.m., the B.C. ferry "Bowen Queen" was traveling through Active Pass when crew members spotted the Rosella III moving erratically through the water.

A Coast Guard helicopter was deployed to the area.

Meanwhile, a second B.C. ferry, the "Spirit of B.C.," had begun to follow the Rosella III.

At about 8:45 pm., a Coast Guard cutter and members of the Salt Spring Island RCMP caught up to the Rosella III between North Pender Island and Salt Spring Island. RCMP officers boarded the vessel and took the suspect into custody at gunpoint.

A 46-year-old Vancouver man was taken into custody and faces charges of theft over $5,000 and possession of stolen property over $5,000, according to Vancouver police.

Police listed the boat's value at $200,000.

Ann Ashley, who has been operating the vessel with her husband, Ken, for 20 years, told ctvbc.ca on Saturday she didn't understand why the thief targeted the Rosella III.

"It's so distinctive. It turns heads," she said.

"It's total stupidity."

The Rosella III, which features an all-mahogany interior, was built in 1958, Ashley said, and its original owner was the treasurer of Woodward's department store.

Ashley said her husband, who is Australian, named the boat after an Australian parrot.