The Rosella III will be berthed for weeks undergoing repairs after it was stolen and recovered at gunpoint in Active Pass. (CBC)

A Vancouver charter boat is back in its downtown berth at Granville Island, a little worse for wear, one week after it was at the centre of a high-seas joyride.

It took a co-ordinated effort by police, coast guard and BC Ferries to capture the Rosella III after it was spotted manoeuvring erratically in Active Pass, between Salt Spring Island and Galiano Island in the Strait of Georgia, according to Vancouver police.

The 52-foot, 50-year-old charter boat was whisked out of her moorings at Granville Island Marina Sept. 4 at about 10 a.m. PT.

The boat's owner, Ken Ashley, told CBC News that whoever stole the $200,000 vessel used a fire axe to break out a window and then drove off.

Once the theft was discovered, marine police moved quickly to alert vessels to watch for the distinctive boat.

A tugboat reported a life raft, deck chairs and documents from the Rosella III floating at the south end of the Fraser River.

Two BC Ferries helped out

A BC Ferry then spotted the boat in Active Pass.

A coast guard hovercraft, a police helicopter, three detachments of RCMP and a second BC Ferry closed in on the boat near Salt Spring Island where officers boarded the Rosella III and took a suspect into custody at gunpoint, police said.

Ashley said insurance will cover the repair costs but the boat will be berthed for several weeks.

"They overheated this engine," he said. "They either cracked the cylinder head or did some other damage, but they ran it hot and then too high for too long."

Police are recommending that charges of theft and possession of stolen property be laid against Blair Margetts, 46, of Vancouver, who is being held in custody, Const. Jana McGuinness said.