Billionaire's yacht goes up in smoke

By WAYNE THOMPSON

The dream boat of Auckland billionaire businessman Graeme Hart has been heavily damaged by fire at a shipyard in the United States port of New Orleans.

The $61 million yacht "Ulysses" was nearing completion after two years under construction when fire broke out on Wednesday (New Zealand time) in the vessel's lower crew and guest cabin decks.

The Times-Picayune newspaper of New Orleans reported the vice-president of Trinity Yachts shipyard, William Smith III, as saying Mr Hart was "in mourning" since learning about the fire.

He said Ulysses was Mr Hart's "ultimate dream boat" and the Hart family was "devastated".

The extent of fire damage is yet to be thoroughly assessed but it is understood that the fire was extinguished before it could affect the vessel's engine room or its steel hull.

The 58.5m luxury yacht, built in the style of a scientific research vessel, is reported to be the largest private yacht built in the United States since the 1930s Depression.

nzherald.co.nz/marine