The attack took place off the port city of Hudaydah, near the island of Uqban, Yemen’s al-Masirah television network reported on Friday.
The head of the Yemeni Union of Fishermen said the attack targeted three fishing boats.
There has so far been no report about those still unaccounted for in the aftermath of the attack.
Early this month, at least 55 people were killed after Saudi warplanes hit a hospital and a fishing harbor in Hudaydah.
A separate Saudi aerial attack hit a bus carrying a group of young schoolchildren in Yemen's Sa’ada province, killing over 50 people, including 40 children.
In March, more than 30 Somali migrants, including children, were killed in the Red Sea when a Saudi military helicopter opened fire on their boat.
Since June, Saudi Arabia and the UAE have been waging a massive military campaign to take over Hudaydah through which much of Yemen's imports reach the impoverished country.
The United Nations and other international bodies have issued serious warnings against the continuation of the attacks, saying they could tip Yemen over the edge of famine.
Saudi Arabia invaded the Arab world’s poorest nation in 2015 to return a former regime to power. The kingdom has also imposed an all-out blockade on Yemen, which according to the UN is now the scene of the world’s worst man-made crisis.