Overturned $7M Mega-Yacht In Chesapeake Bay: What We Know About Salvage Plan

EDGEWATER, MD — The mega-yacht worth about $7 million that capsized this weekend is still stuck in the Chesapeake Bay. Salvage crews are formulating a relocation plan, but an exact timeline has not yet been finalized.

The 122-foot Lovebug ran aground in Anne Arundel County Saturday shortly before 12:41 p.m. The 2010 Sanlorenzo Motor Yacht departed Annapolis Yacht Basin and was heading south before the accident.

The superyacht was most recently sold in 2021 at a last known asking price of $7.995 million, according to Boat International.

The vessel is still stuck near Edgewater's Beverly Beach and Shady Side's Curtis Point. That's located near where the West River and the Rhode River meet the Chesapeake Bay.

Lovebug remains overturned on its starboard, or right, side about a half mile offshore.

"The vessel is not blocking the channel so should not be a hazard to boaters entering the West River," the Maryland Department of Natural Resources Police told Patch in a Thursday email. "Tow Boat US has a vessel monitoring the scene, and NRP and Coast Guard patrol vessels have been actively monitoring the area."

Five people were rescued by a good Samaritan and a towboat as the yacht took on water. The Anne Arundel County Fire Department said it evaluated two passengers, but neither went to the hospital. Chesapeake Bay Magazine reported that the occupants were a captain, three crew members and one passenger.

A small amount of oil leaked from the yacht and has since been contained, The Capital reported.

Salvors placed oil booms to protect the surrounding waterway from contamination, the U.S. Coast Guard said.

TowBoatUS is handling the salvage operation. A timeline for the refloat and relocation efforts is not yet clear.

"We will approach the planning and execution with care for the environment and care for the owner's property," TowBoatUS spokesperson Christine Plummer told Chesapeake Bay Magazine, adding that "24-hour security is in place and we ask boaters to not approach and to pass at slow-bell."

TowBoatUS hasn't yet responded to Patch's request for comment.

Lovebug is listed as available for charter for $125,000 per week on charterworld.com. The website says the yacht has a crew of six and five cabins for 10 guests. Photos show that the vessel has a hot tub on the deck along with indoor and outdoor dining areas.

The Italian-built boat has a cruising speed of 12 knots and a range of 3,000 nautical miles, CharterWorld said.

Related: Yacht Overturns On Rhode River Near Edgewater: Report