Originally published on August 23, 2013

Australian Federal Police, in concert with US authorities have netted a record cocaine haul of 750 kilograms concealed in a yacht docked in Vanuatu.

The cocaine has a street value of $370 million in Australia, which was the final destination for the illicit substances.

The cocaine was meticulously packaged and stacked in a secret compartment in the yacht's hull. The secret compartment was secured with wielding and concrete.

The sting was conducted in the early hours of the morning, but no arrests were made.

The syndicate thought to be responsible for the trafficking operates out of South America. They use maritime passages to transport cocaine from Colombia through the Pacific to the final destination of Australia.

According to the Australian Broadcasting Commission: "AFP Assistant Commissioner Ramzi Jabbour says the same syndicate was behind a similar seizure of cocaine in 2011.

"Due to ongoing court processes I am limited in what I am able to say in relation to that matter," he said.

"Whilst there have been no arrests at this stage of the investigation it is an ongoing matter as I stated earlier."

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