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Mining Tycoon, Clive Palmer’s $40m Yacht Hits Reef Near Sentosa

Mining Tycoon Clive Palmers 40m Yacht Hits Reef Near Sentosa
Image via X (@AHaermeyer)
  1. Clive Palmer’s yacht, Australia, valued at approximately $40 million, is stranded near the coast of Singapore’s Sentosa Island.
  2. The yacht unexpectedly ran aground after colliding with a reef during low tide.
  3. There’s uncertainty about whether Palmer, an Australian mining magnate, was aboard the yacht at the time of the incident.

From seemingly serene waters, a sudden twist in the tale.

Nine News reports that the $40 million yacht belonging to mining tycoon Clive Palmer got entrenched near Sentosa Island in Singapore.

The Unforeseen Incident

An unfortunate encounter with a reef during low tide set the stage for the grounding.

Struck near Sentosa Island, the yacht now resides unsteadily amidst Singapore’s waters.

Was Palmer himself present during this abrupt mishap?

We’re unsure.

A comprehensive tour of Australia reveals it to be quite a sight.

The 56-metre Benetti, purchased in 2021, hosts several bars, sun decks, a VIP suite, and even a jacuzzi.

Cruising in such a vessel surely snubs everyday mundane.

Palmer and Matters Maritime

Palmer certainly takes a shine to seafaring style.

His affinity for luxury yachts is well-known, but this is not his maiden tussle with maritime trouble.

Back in 2013, his supersized yacht Maximus came face-to-face with problems of a mechanical nature and narrowly ducked a dangerous dance with a rock wall.

News.com.au mentions a common undercurrent in the two incidents.

Both yachts faced possible mechanical issues.

Now, one might wonder, could old troubles have resanded their heads in a new ensemble?

The Journey That Wasn’t

Setting sail from Singapore, the yacht was bound for Papua New Guinea.

However, Sentosa Island, apparently unmarked on the yacht’s itinerary, decided to extend a less than cordial welcome.

A local, seemingly familiar with the maritime layout, asserted the imbibed rule among seafarers about keeping clear of the two buoys near Sentosa’s marina.

To be stranded within a stone’s throw of Sentosa Island brings a surreal twist to this sailing escapade.

How did the yacht end up in a pickle?

Many fingers point towards a problematic motor.

But we’re just reading the waves here.

Quite a Sight

Such a spectacle has gathered a merry troop of spectators.

Onlookers, bewitched by the hulking figure of Australia lodged in shallow waters, have been narrating tales of the unfortunate grounding.

Even seasoned jet skiers understand the improbability of the yacht’s current predicament.

The world of yacht cruising might be an exalted canvas of swanky interiors, sun-kissed decks, and jaunty journeys.

But unexpected encounters, like this one, surely leave a weather-beaten stain on the otherwise varnished visage.

In the end, conjecture is but conjecture.

The particular events that led the yacht to greet the reef are yet to be charted.

Investigations by the Marine Port Authority of Singapore are underway.

As we wait for more clarity, tell us, what do you think could be the backstory to this situation?

Was it just an untimely accident or indicative of a larger issue?

What do you think?

Written by Patrick Tan

Meet Patrick, the word wizard of Daily.SG! He whips up news about Singapore that's so simple, even toddlers give him a thumbs up. When he's not writing, you'll find him sipping milk tea, gliding on skates, or striking a yoga pose. Dive into his stories and feel the sprinkle of fun and a whole lot of heart!

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