The 56 metre long sailing yacht "Bayesian" of British tech entrepreneur Mike Lynch sank off the coast of Sicily on 19 August 2024, killing Lynch and six other people. After months of preparation, which included a diver lost his lifeThe wreck was recovered on Saturday, 21 June, using one of the most powerful floating sea cranes in Europe. lifted out of the Mediterranean.
After being raised and pumped out for three days, the yacht was transported to the harbour of Termini Imerese, where it will now be examined by British and Italian investigators to determine the exact cause of the accident. A Preliminary investigation report has already been published, which shows that the yacht had a stability angle of only 70.6 degrees at anchor with only the mast and centreboard raised. She heeled very quickly and very strongly in the gale-force gusts. However, it is apparently still unclear why she filled up so quickly and is now part of the investigation. It is also to be established whether the captain or crew acted in accordance with the regulations.
Future of the "Bayesian"
After ten months under water, the "Bayesian" is now on land. Apart from the tragic circumstances and the deaths caused by her sinking, the question now arises as to what will happen to the superyacht. It is very likely that she has been closed by the authorities for the time being.
This lockdown could become a problem for the future of the boat. Theoretically, much of the "Bayesian" could still be salvaged, perhaps even the entire yacht. "It's not so important how long a boat has been under water, but how long it remains on land afterwards without any conservation work being started," says Kai Haasler, Managing Director of Marine Claims Service (MCS), a nautical-technical surveyor's office based in Hamburg that specialises in damage processing and salvage of yachts, among other things. Although a yacht like the "Bayesian" is clearly out of the order of magnitude that his company normally deals with, the consequences of a sinking are comparable.
Corrosion must be stopped
"As long as the boat is under water," says Haasler, "there is an oxygen seal and corrosion is limited." But as soon as it is back in the air, the clock is ticking. "Three to four days are enough and everything is scrap." This is also the case with the Flood of the century in October 2023 could be seen. "As soon as the salt water is out of the boat, it's a case of rinse, rinse, rinse with fresh water," says Haasler. Above all, the engine then has to be quickly refuelled with oil and diesel to preserve it. Then you have weeks or months to repair it again.
From an insurance perspective, however, the "Bayesian" is very likely a total loss. This is also due to the Disposal costs. "The requirements for this are rightly very high," says Haasler. Everything has to be documented precisely and there are very strict environmental regulations. That's why an insurance company is usually happy to find a buyer in such cases, even if it's only for one euro.
What the wreck is worth
In fact, there is even a market for this. "We know some shipyards that specialise in such cases," says Haasler. They are primarily interested in the structure of the boat. "The interior of the 'Bayesian' and probably the aggregates are probably no longer usable. Even if the highest quality boatbuilding plywood was used, it too will soak up water after this time." Not to mention upholstery or interior fittings. Partial repairs, such as replacing part of a bulkhead, would probably also be out of the question given the high manufacturing standards of a "Bayesian". "The only solution is to tear it out."
The hull and deck, however, are very interesting. "The structure, including the rudder and keel, are still there. This saves the enormous amount of time it takes to design and build a new structure." Gutting a boat like the "Bayesian" and refitting and rebuilding it is generally cheaper than building a new one.
However, the prerequisite is that a prospective buyer is found. Given the yacht's history and the tragic incidents, this could well be difficult. If no new owner is found, the only option would be to completely dismantle the yacht. "Then it's all about the residual value of the material, such as aluminium, which is sold at the current market price per tonne."
