Rescuers looking for the capsized boat Everest Horizontal have failed to find the missing vessel, but the owner is determined to keep up the search.

Tim Kent, along with Billy McCallan and his crew, set off last week Thursday in hopes of finding Mr. Kent's boat.

Mr. Kent, 50, and his sailing companion Richard McKenna, 39, were rescued by the cruise ship Nordic Empress after the 50-foot yacht capsized when part of the boats keel broke off. Mr. Kent had just completed the Around Alone race and was on his way back to Newport, Rhode Island.

Mr. Kent arrived back on the Island on Thursday and had lined up the fishing boat Eastern Star to go out and rescue his yacht.

Back on land yesterday, Mr. Kent's search wound up being unsuccessful after two trips out to sea. But he said he was determined and would be going out again.

"Unfortunately, we underestimated how much fuel we needed and when we got out there we found out that the same cruise ship Nordic Empress that had picked us up had spotted Everest. But in order for us to get the boat and make it home we had to turn around to refuel," Mr. Kent said.

"We went back out a second time and searched the area but the fishing boat didn't have a radar and we didn't see anything. We were probably so close to the boat."

"Then once we got back we found out that at 7.30 Sunday morning, Harbour Radio had heard that a yacht heading home after the Marion to Bermuda race had sighted the boat but because our radio had malfunctioned we didn't find out until we had returned to Bermuda," Mr. Kent said.

Mr. Kent said he is currently in the process of getting a boat with a radar and long distance communication. He hopes to be back out searching today. "I'm grateful to be alive and thankful for everyone's help but I'm determined to get my boat. It's just sitting out there waiting for me," he said.