Greek news outlets and photographs from witnesses have revealed a significant fire has taken place aboard the 35m motoryacht, Koi, which has subsequently sunk in Greek waters.
ImerZante, a local news outlet, reported that an alarm was signalled at 8.45am on Saturday 9 September, when thick smoke appeared in the area between Kefalonia and Zakynthos.
The crew, of four men and three women, was rescued by a fishing vessel called Afroditi, which transported them to Agio Nikolais port in northern Zakynthos.
The report suggests that the fire began in the engine room, travelling across the yacht within minutes, and that a floating fire brigade arrived from Patras at 12.45pm and attempted to put the fire out. Fortunately, no one was hurt in the incident.
The yacht is said to have been travelling from Malta, where it left on Thursday, to Itea for a charter.
Resulting pollution is a concern and the local area remains closely monitored.