On 19 August 2024 The 56-metre-long sailing yacht "Bayesian" sank by the British tech entrepreneur Mike Lynch off the coast of Sicily, in which Lynch and six other people lost their lives. After months of preparation, which also included a diver lost his life, on Saturday 21 June, the wreck was raised using one of Europe’s most powerful floating marine cranes retrieved from the Mediterranean Sea.
After being raised and pumped out over a period of three days, the yacht was transported to the port of Termini Imerese, where it is now to be examined by British and Italian investigators in order to determine the exact cause of the accident. A Preliminary investigation report A report has already been published showing that, whilst at anchor – with only the mast standing and the centreboard raised – the yacht had a stability angle of just 70.6 degrees. It therefore heeled over very quickly and very sharply in the hurricane-force gusts. However, it is apparently still unclear why it filled with water so rapidly, and this is now part of the investigation. The investigation will also seek to establish whether the captain or crew acted in accordance with regulations.
The future of ‘Bayesian’
After spending ten months underwater, the ‘Bayesian’ is now ashore. Quite apart from the tragic circumstances and the loss of life resulting from her sinking, the question now arises as to what will happen to the superyacht. It is highly likely that she will be impounded by the authorities for the time being.
This sealing off could become a problem for the boat’s future. Theoretically, much of the ‘Bayesian’ could still be saved – perhaps even the entire yacht. “It isn’t so much a question of how long a boat has been submerged, but rather how long it remains on land afterwards without any preservation work being carried out,” says Kai Haasler, managing director of Marine Claims Service (MCS), a nautical and technical consultancy based in Hamburg that specialises, amongst other things, in claims handling and the salvage of yachts. Although a yacht like the ‘Bayesian’ is significantly larger than those his company normally deals with, the consequences of a sinking are comparable.
Corrosion needs to be stopped
“As long as the boat is submerged,” said Haasler, “it is cut off from oxygen and corrosion is kept to a minimum.” But as soon as it is exposed to the air again, the clock starts ticking. “Three to four days is enough for it all to turn to scrap.” This is also the case with the The flood of the century in October 2003 could be seen. “As soon as the salt water is out of the boat, you have to rinse, rinse, rinse with fresh water,” says Haasler. Above all, the engine must then be refuelled quickly with oil and diesel to preserve it. Then you would still have weeks or months to repair it.
From an insurance perspective, however, the ‘Bayesian’ is very likely to be a total loss. This is also due to the Disposal costs. “The requirements for this are, quite rightly, very high,” said Haasler. Everything has to be precisely documented and there are very strict environmental regulations. That is why, in such cases, an insurance company is usually only too happy to find a buyer, even if it is for just one euro.
How much the wreck is worth
In fact, there is even a market for this. “We know of a few shipyards that specialise in such cases,” says Haasler. Their main concern is the boat’s structure. “The interior fittings of the ‘Bayesian’ – and presumably the engines too – are probably beyond repair. Even if the highest-quality marine plywood was used, after such a long time underwater, it too would be completely waterlogged.” Not to mention the upholstery or interior fittings. Partial repairs, such as replacing a section of a bulkhead, would probably be out of the question given the high manufacturing standards of a ‘Bayesian’. “The only option is to rip it all out.”
The hull and deck, however – in other words, the outer shell – are certainly of interest. “The structure, including the rudder and keel, is still intact. This saves the enormous amount of time that would otherwise be required for the design and construction of this structure in a new build.” Gutting a boat like the ‘Bayesian’ and refitting and rebuilding it is generally cheaper than building a new one.
However, this is conditional on a prospective buyer being found. Given the yacht’s history and the tragic incidents, this could well prove difficult. If no new owner is found, the only option would be to scrap it completely. “In that case, it would simply be a matter of the residual value of the materials, such as aluminium, which would be sold at the current market price per tonne.”