Cocaine worth $330 million seized from yacht in Pacific island of Vanuatu

CANBERRA, Australia – U.S. and Australian agents have seized 750 kilograms of cocaine worth US$330 million from a yacht in the South Pacific country of Vanuatu, officials said Friday.

The U.S. Drug Enforcement Administration and Australian Federal Police have collaborated with South Pacific governments since 2010 to investigate organized crime syndicates’ use of yachts to smuggle cocaine from South America to Australia.

Australian Customs and Border Protection Service said in a statement that Vanuatu police assisted in the seizure made Monday at the capital, Port Vila.

The drugs were found in the engine compartment of the yacht.

No arrests have yet been made.

Australia has become an increasingly lucrative market for international drug syndicates because the relative strength of its currency and economy.

U.S.-Australian co-operation with authorities in Vanuatu, Tonga, the Cook Islands, and New Caledonia have resulted in almost 2 tonnes of cocaine destined for Australia being seized from five vessels since 2010.