A sighting of the capsized boat Everest Horizontal has been made by one of the Marion to Bermuda Race competitors.

Around the World Alone sailor Alan Paris said Harbour Radio was informed yesterday that the boat, which capsized on Friday, was seen 115 miles north-northwest of the Island by a Marion Race yacht.

Fears that the capsized yacht might be a hazard for the race competitors were quelled after the sighting but Mr. Paris warned that a collision could still happen.

“The position that the boat was sighted at means that it has effectively stayed in its place since it capsized,” he said.

“From tracking the weather we've been able to establish that a cold eddy is the reason the boat has kept the same position.

“A cold eddy occurs because cold water meets with the warm water from the Gulf Stream and it begins to spin and if you get stuck in a cold eddy you'll keep moving round and round.”

Everest Horizontal capsized when the stabilising bulb of the boat's keel sheered off. Owner Tim Kent, competing against Mr. Paris in the Around Alone Race, was rescued along with his sailing companion Rick McKenna by passing cruise ship The Nordic Empress on Friday.

“It's not confirmed when he'll be on the Island but at the moment it's the sooner the better for him to get out to the boat because the eddy will eventually break apart and move,” Mr. Paris said.

Mr. Paris said that when Mr. Kent arrives, he is due to go out to retrieve the yacht with local boat Wildcat and fellow solo sailor Brian Van Liew.