Suspected drowning at Prince of Wales Bay.

Police are investigating the circumstances surrounding the over-night death of a 39 year old man from Glenorchy who was located deceased at Prince of Wales Bay this morning.

Friends of the man flagged concerns for his welfare to police this morning after they had been socialising on a nearby vessel over-night.

As a result, land and sea searches were initiated and the deceased was located a short time later in close proximity to the vessel.

Investigators are preparing the relevant reports to the Coroner.