The 50-foot fishing vessel Edvin Olai reported engine failure while off Røst, Norway.   While the Edvin Olai was waiting on a tow from a rescue ship, the crew was concern the vessel would strike the reef only a few yards away.  Their attention quickly change direction as they saw smoke coming from the air vents to the engine room.   The crew closed the hatches and released the extinguish system, but they still heard a crackling noise from the engine room.  The crew feared there might be an explosion was evacuated by helicopter.   The helicopter landed the men in Røst while the Edvin Olai arrived later under tow of the rescue boat Stombull.   Local fire rescue went aboard and to make sure the fire was extinguished.  The vessel will be towed back to it’s home port of Meloy.