Holly is the editor of Dockwalk. She grew up racing sailboats in England before switching to the world of superyachts and moving across the pond to Fort Lauderdale.
The stranded superyacht Blue Gold could finally be refloated after salvage efforts begin, nearly a decade after she became shipwrecked in Vanuatu. The 50-metre Benetti, beached during Cyclone Pam in 2015, has weathered years of stalled attempts and growing environmental concerns. Now, with a two-year deadline set by the Vanuatu Maritime Safety Authority (VMSA), progress is underway to remove her from her resting place.
Earlier attempts to salvage the yacht were delayed by disputes over ownership and noncompliance with salvage agreements. VMSA initially partnered with a previous registered owner, Brett Devine, in 2021, but after Devine failed to meet the conditions required for removal, the authority revoked the registration. Responsibility has since been entrusted to Derek French, a resident of Vanuatu, who has taken on the task of coordinating the salvage operation.
Work is now progressing under the new ownership, supported by Ocean Logistics Ltd. and the VMSA. Significant steps have been taken to stabilize the yacht and prepare her for refloating, including repositioning her swing keel, which had been deeply embedded in coral. Salvage crews are relying on high tides and specialized equipment, such as float bags and winches, to carefully dislodge the vessel while minimizing further damage to the reef.
Speaking to former superyacht engineer and YouTuber Colin MacRae on the Parlay Revival channel, French detailed the progress made so far. “She’s almost ready to come out. We’ve had two attempts. She was buried underground—368 tons—and the stones at the bottom of the [smaller] keel had blocked it, but that’s all been exposed now. We’ve dug all that out so they’re free, and we’re just going to put all the rollers in underneath for the roll-off, then wait for the tugs and airbags to lift her up a little. Then she’ll roll off.”
A significant obstacle remains in the form of a large stone beneath the keel. “There’s a huge stone underneath that’s impeding work,” French explained. “Once we remove that stone, we’ll have a fairly good straight road back.”
The VMSA, citing the Shipping Act [CAP 53], has stipulated that the current certificate of registration for Blue Gold is contingent on her removal within two years. Failure to meet this deadline could result in the revocation of the registration.
“Part of the delay is that it’s been logistically challenging,” says Sean Meagher, who served as captain from 2008 to 2011. He has visited several times since her grounding and believes she has the potential to return to full operation despite the toll taken by nearly a decade ashore.
“She was in better condition than I expected,” he said. “The boat always had good bones. I’ve never pushed a boat harder than I pushed that one, and she took it – she’s a tank.”
The yacht’s prolonged stranding has not been without controversy. Local chiefs have raised concerns about the environmental impact on the reef and harbor, though reported monthly financial contributions from the yacht’s owner have supported community development projects in Moso.