Yacht a disaster

PRICEY: Serene cost an estimated €500 million when sold by vodka tycoon. PRICEY: Serene cost an estimated €500 million when sold by vodka tycoon. © Wikimedia Commons

ONE of the world's most expensive vessels crashed into rocks when it ran around just 20 miles from a popular holiday resort.

The 134 metre long Serene smashed into a rocky shore in Egypt, near the world famous Sharm El Sheikh resort in the Red Sea.

Serene was built in 2011 and sold to its current owner, Mohammed Bin Salman, for close to €500 in 2015, though the exact figure was undisclosed.

Damage from the crash, apparently caused by propulsion failure, is said to be extensive. The hull has been punctured, with further damage to the bow and bulb. It was forced to remain on the rocks for several days while the weather cleared.

She was originally built for a billionaire Russian vodka magnate and was once leased for $5 million per week by Bill Gates.

Salman is a 31-year-old Saudi prince, and heir apparent to the throne, who has a taste for the luxury lifestyle. He bought Serene on a whim from the Russian vodka tycoon while on holiday in the south of France.

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