Mohammed Bin Salman’s $500 million Serene Yacht, Bow up on rocks while partying in Red Sea

The Fincantieri-built superyacht is reportedly bow-up on the rocks, 20 nautical miles east of Sharm El Sheikh.

Superyacht News have reported that the 134m Fincantieri build, Serene, has run aground in the Red Sea, 20 nautical miles east of popular Egyptian holiday resort, Sharm El Sheikh.

The vessel is reportedly bow-up on the rocks, and has sustained structural damage to the bulb, bow and hull. The hull has allegedly punctured forward — while there is no water ingress at present, there are concerns of her sustaining further damage on the rocks.

The cause is thought to be a navigational track error and propulsion failure.

The situation is said to be resolvable with a hull patch and ballast placed aft, however weather conditions have not favoured her removal, but are improving.

Sources close to the tragic event say Serene was bow up on rocks while partying in Red Sea with young women indulging in all kinds of vices. Because the damaged yacht could not ride the seas, girls were air lifted.

The Yacht name has been omitted in order to prevent further leakage of the information to media.

Serene Management is trying to claim forged $30 million for the damage from QBE Insurance.

Later, Yacht was lifted by crane to perform the immediate repair locally

The current position of Serene Yacht — near Tiran Island and Sharm El-Sheikh

Serene is one of the world’s largest private superyacht. Built by Italian shipyard Fincantieri, Serene was delivered to its owner in August 2011. At delivery, she was one of the 10 largest yachts in the world with an overall length of 439.3 feet and a beam of 60.7 feet.

The ship was built for Russian vodka tycoon Yuri Scheffler for $330m. In the summer of 2014, Bill Gates leased the yacht for US$5 million per week.

In 2015, while vacationing in the south of France, Prince Mohammed bin Salman of Saudi Arabia bought the vessel for approximately 500 million Euros.