The Indian Coast Guard, in conjunction with various other agencies, is diligently working around the clock to mitigate a significant fire aboard the Singapore-flagged cargo vessel MV Wan Hai 503. 

This incident occurred earlier this week due to an explosion of a container while the vessel was en route to Mumbai from Colombo, off the coast of Kerala, according to news agency PTI. 

"Approximately 40 per cent of the fire has now been brought under control. The vessel remains afloat but is unmanned and is gradually drifting southeast in the Arabian Sea," as stated in updates provided by the Director General of Shipping, reported PTI.