Clive Palmer’s superyacht stranded in Singapore

Clive Palmer’s $40m superyacht has safely anchored off the coast of Singaporean coast after it was stranded on a reef and began taking on water.

Clive Palmer’s superyacht Australia ran aground off Singapore’s Sentosa beach.

Clive Palmer’s $40m superyacht has safely anchored off the coast of Singaporean coast after it was stranded on a reef and began taking on water.

The mining magnate’s 56m luxury vessel ran aground in shallow waters off the Buran Channel near the exclusive Sentosa Resort at 4.30pm on Monday afternoon. The yacht has since been refloated and anchored, with damage assessments yet to take place.

Conflicting reports suggest the yacht hit a coral reef or encountered engine trouble.

The Singapore Maritime and Port Authority will be investi­gating the incident.

The error has sparked bemused commentary within Singapore yacht club chat groups, which shared video and photographs of the stricken boat, including one showing uniformed crew standing on the lower deck as a Singapore port authority boat watched on.

“I don’t know what to say. This is something that just doesn’t happen,” Franco, an Italian Singaporean resident and local Sentosa yachtie, told The Australian.

“Everybody knows there are rocks and coral there. It’s very clearly signed. Unless they were having motor problems it’s very, very difficult to make this kind of mistake because your instruments should tell you you’re going into shallow waters.”

Tracking shows the yacht had logged a voyage to Port Moresby before the incident occurred.

The superyacht had been in the Mediterranean earlier this year, where Mr Palmer spent time in the European summer.

It is typically docked on the Gold Coast.

The billionaire is not believed to have been on the yacht at the time of the incident.

The boat was purchased in 2021.