Sail to within a few NM of the drop site. Once there, at "All Stop" and on the surface a box pops up asking if you want to launch the agent in his boat.
You might have to dive and the surface again to get the box to "trigger", and if you are still moving (drifting) you get a horrendous sound of colliding with the rubber raft that sounds like you are sideswiping the Bismark. It does no damage to the sub, but it scared the hell outta me the first time it happened