The blue and white 9.5m diesel-powered Sarita was found half submerged, grounded on rocks near the intersection of the Esplanade and Waterfront Rd about 7am yesterday.
One of the boat’s owners, who did not want to be named, said the incident had left him upset and counting the cost of the damage to the vessel, which had its hull punctured when it was "ripped open by a rock"
on its port side and took on water.
"It’s just bad luck. It’s just happened. All the information we had was that the mooring was in good condition.
"We are devastated. We don’t want to lose our boat."
The vessel was insured and the owner’s insurance company has been notified.
Shortly before 5pm yesterday, the boat was secured with ropes and tyres were wedged underneath as the tide came in.
By 5.30pm it had been floated to the slipway, where it was taken from the water to a car park at the North Otago Yacht and Powerboat club in Waterfront Rd.
Earlier, Sergeant Tony Woodbridge, of Oamaru, said no-one was on the boat when it slipped its mooring, and no fuel was believed to have leaked into the harbour.
He said police were notified about the incident shortly after 7am.
"We contacted the council and the boat owner."
The recovery was managed by the Waitaki District Council, he said.
