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AB 78 yacht NOT for charter*

23.75m  /  77'11 | ab yachts | 2006.

Owner & Guests

Cabin Configuration

• Previous Yacht

Special Features:

• Sleeps 5 overnight
• Able to access shallow bays and coves

The 23.75m/77'11" motor yacht 'AB 78' was built by AB Yachts in Italy.

Guest Accommodation

AB 78 has been designed to comfortably accommodate up to 5 guests in 3 suites.

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Built with a composite hull and GRP superstructure, she has impressive speed and great efficiency thanks to her planing hull. Powered by twin Caterpillar (C32 ACERT) 1,825hp engines, she reaches a maximum speed of 50 knots. Her low draft of 1.6m/5'3" makes her primed for accessing shallow areas and cruising close to the shorelines. Her water tanks store around 1,000 Litres of fresh water.

*Charter AB 78 Motor Yacht

Motor yacht AB 78 is currently not believed to be available for private Charter. To view similar yachts for charter , or contact your Yacht Charter Broker for information about renting a luxury charter yacht.

AB 78 Yacht Owner, Captain or marketing company

'Yacht Charter Fleet' is a free information service, if your yacht is available for charter please contact us with details and photos and we will update our records.

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Specification

M/Y AB 78

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• Event Details

Yacht insurance provider OMAC is hull carrier for sunken yacht in Sicily, sources say

Rescue boats return to Porticello harbor near Palermo, after they found two bodies, on Aug. 21, two days after the British-flagged luxury yacht Bayesian sank. ALBERTO PIZZOLI/AFP/Getty Images

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-metre-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter said.

The syndicates providing insurance include Travelers Companies Inc, Navium Marine and Convex, while British Marine is the protection and indemnity (P&I) insurance provider, the sources said.

Reuters could not ascertain the value of the yacht or what the value of potential claims could be.

Ships typically have P&I insurance, which covers third-party liability claims including environmental damage and injury. Separate hull and machinery policies cover vessels against physical damage.

Convex declined to comment, while OMAC, Travelers, Navium and British Marine did not immediately respond to Reuters’ requests for comment.

The British-flagged superyacht was carrying 22 people and anchored off the port of Porticello when it was hit by a fierce, pre-dawn storm on Monday. Fifteen people managed to escape the yacht before it capsized.

Four bodies were found on Wednesday aboard the sunken wreck of the yacht belonging to the wife of British tech magnate Mike Lynch, sources close to the rescue operation told Reuters.

The global yacht insurance market has faced significant challenges in recent years, largely due to natural disasters like Hurricane Maria in 2017 and Hurricane Ian in 2022, which devastated numerous charter bases and hundreds of yachts.

In response, insurers have increased rates and reevaluated their guidelines and risk appetite. Insured losses in the market have mostly stemmed from hurricanes, severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

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British tech entrepreneur Mike Lynch missing after superyacht sinks in storm off coast of Sicily

Topic: Maritime Accidents and Incidents

Video released by Italian authorities show the stretch of sea near Palermo, Sicily, where the superyacht Bayesian sank.   ( AP: via Vigili del Fuoco )

British tech entrepreneur Mike Lynch, his lawyer and four other people are missing after a superyacht carrying 22 people sank off the coast of Sicily, authorities say. 

Fifteen people, including Mr Lynch's wife, have been rescued after the boat was hit by a violent storm at sunrise, according to the Italian Coast Guard. 

What's next?

Divers had located the wreck 50 metres underwater and search operations are continuing. 

British tech entrepreneur Mike Lynch, his lawyer and four other people are missing after a superyacht carrying 22 people capsized and sank off the coast of Sicily due to bad weather.

Mr Lynch's wife and 14 other people were rescued, including a one-year-old girl, and one person has died.

A person familiar with the rescue operation confirmed to Reuters that Mr Lynch's 18-year-old daughter Hannah has not been accounted for.

The British-flagged, 56-metre Bayesian had a crew of 10 people and 12 passengers, representing British, American and Canadian nationalities, the Italian Coast Guard said.

British tech entrepreneur Mike Lynch is reportedly among those missing. ( Reuters: Henry Nicholls )

Managers of the sailing yacht Bayesian, Camper & Nicholsons, confirmed to the ABC that the Bayesian encountered severe weather and subsequently sank near the Sicilian capital Palermo, Italy, at 4:30am Monday, local time. 

"Our priority is assisting with the ongoing search and providing all necessary support to the rescued passengers and crew," they said. 

Fifteen people were rescued and taken to shore at Porticello, where eight were receiving treatment in hospital and remain in a stable condition, the Italian Coast Guard said.

One body has been recovered and police divers were trying to reach the hull of the ship, which was resting at a depth of 50 meters where it had been anchored.

British Bill Gates missing

Mr Lynch is often dubbed by UK media as "the British Bill Gates" and the BBC confirmed the luxury yacht was tied to his wife, Angela Bacares.

According to maritime data service Equasis, the owner of the the Bayesian is listed as Revtom Ltd, the BBC reported.

Additionally, the yacht's name would resonate with Mr Lynch because his PhD thesis and the software that made his fortune was based on Bayesian theory.

Mr Lynch was acquitted in June by a jury in San Francisco of fraud charges linked to the sale of his software company, Autonomy, to Hewlett-Packard for $US11 billion ($16.4 billion) in 2011.

He said at the time that he was "elated" to be cleared in the criminal trial in which he denied any wrongdoing, and blamed HP for botching the integration of the two companies.

In a separate incident, Mr Lynch's co-defendant in the trial, Stephen Chamberlain, died on Monday after a road accident left him critically injured.

Mr Chamberlain — Autonomy's former vice-president of finance alongside Mr Lynch — had been placed on life support after being hit by a car in Cambridgeshire on Saturday morning.

Rescued baby held above waves 

The coast guard said that rescue efforts had located the wreck at a depth of 50 metres underwater. 

The Italian fire and rescue service agency said search operations at sea were continuing with the coordination of the Italian Coast Guard, in a translated post on the social media platform X. 

One of the survivors, identified only as Charlotte, said she had momentarily lost hold of her 1-year-old daughter Sofia in the water, but then managed to hold her up over the waves until a lifeboat inflated and they were both pulled to safety, Italian news agency ANSA reported.

A spokesperson for the UK's Foreign, Commonwealth and Development Office said they were providing support to British nationals.

"We are providing consular support to a number of British nationals and their families following an incident in Sicily, and are in contact with the local authorities"

Captain of nearby boat helped rescue passengers

The captain of a nearby boat that helped to rescue passengers from the Bayesian said that when the storm hit he turned his engine on to keep control of the vessel and avoid a collision with the Bayesian.

"We managed to keep the ship in position and after the storm was over, we noticed that the ship behind us was gone," Karsten Borner told Reuters.

He said that his crew then found 15 survivors on a life raft, including three who were seriously injured and took them on board before the coast guard picked them up.

"There were 15 people inside," he said.

"Then we communicated with the Coast Guard and after some time, the Coast Guard came and later picked up injured people, and 2 hours later they picked up the other people."

Mr Borner said "a little baby and the wife of the owner" were among the survivors, while the owner of the sunken ship and another child were among those missing.

He described the conditions as "very strong" and said that his vessel was "heeling" but the Bayesian "went flat on the water and then down".

"There was a light and we saw that the ship was aside and then we saw a triangle," he said.

"So I think she went back down."

Storms and heavy rainfall swept Italy in recent days

Prosecutors in the nearby town of Termini Imerese have opened an investigation to look into what had gone wrong.

The Bayesian, seen the night before it sank, has the tallest aluminium mast in the world. ( Reuters: Baia Santa Nicolicchia/Fabio La Bianca )

"The wind was very strong," a coast guard official in Palermo told Reuters.

"Bad weather was expected, but not of this magnitude."

After weeks of scorching heat, storms and heavy rainfall have swept down Italy in recent days — with floods and landslides causing major damage in the north of the country. 

Local media said a fierce storm, including water spouts, had battered the area overnight but skies were clear and seas calm by Monday morning.

The ANSA news agency said the yacht, built in 2008 by the Italian firm Perini Navi, had been moored off the port at Porticello.

The yacht had won a string of awards for its design and can accommodate up to 12 guests in six suites and a crew of 10, according to online specialist yacht sites.

The Bayesian was known for its single 75-meter mast, one of the world’s tallest made of aluminium and which was lit up at night, just hours before it sank.