Boat owners at Cape Town’s exclusive Victoria & Alfred marina have been urged to check their seacocks and skin fittings after the well-known superyacht Blue Magic sunk stern down on Sunday.

The custom-built motoryacht suffered ‘catastrophic skin failure’ and is still being refloated, according to co-owner and prominent broker David Abromowitz. He said he was alerted to the incident on Sunday afternoon and arrived to find the yacht stern down.

A diving team was subsequently deployed and is still with the refloat.

“Once the boat is off the bottom we will know what caused the problem – we don’t know for sure,” Abromowitz told IBI. “It is a short, sad story.”

The boat is co-owned by Abromowitz’s firm, Abromowitz Sharp & Associates, and a prominent South African businessman.

The incident prompted a memo from V&A marina management, urging boat owners to check their fittings to prevent any further such incidents. Marina manager Joshio Fisher said the accident site had also been contained to prevent any potential fuel contamination – in accordance with regulatory safety requirements.