On July 18, 2001,at 1700 eastern daylight time, a Cessna 172M, N13237, registered to a private owner, ditched off the coast of Freeport, Grand Bahamas Island, after a loss of engine power. The ferry flight was operated by the pilot under the provisions of Title 14 CFR Part 91 and visual flight rules. Visual weather conditions prevailed and no flight plan was filed. The commercial pilot and pilot rated passenger were not injured, and the airplane sustained substantial damage. The flight departed Fort Lauderdale Executive Airport, Fort Lauderdale, Florida, at 1600. According to the pilot, while making a descent from 5500 feet to 4500 feet, the engine began to lose power. He and the co-pilot began the necessary procedures to regain full power of the engine, the engine never regained full power. The pilot and the co-pilot put on their life vests and ditched the airplane about 15 miles off the coast of Freeport Bahamas, in approximately 150 feet of water. The airplane was not recovered from the ocean for examination. According to the pilot, another pilot reported a previous engine problem with the accident airplane. Reportedly, when the throttle was retarded for a descent, the engine lost power. When the pilot advanced the throttle within one inch of the full-throttle position, engine power was regained. According to the pilot no report of the previous engine problem was made. The pilot also stated that he did not experience a problem with the airplane during his flight to Freeport, Bahamas.