The Chief Executive of the Ocean Youth Trust, Bronagh Cappa, said the organisation was greatly saddened by the loss of its only vessel, the Lord Rank, which ran aground last night on Carrickmannon Rock, just off Kinbane Head.
However, Ms Cappa said she is delighted that none of the six people aboard were injured during what was a textbook evacuation.
The 68ft oyster ketch had six people on board when it ran aground ten nautical miles west of Ballycastle, Co Antrim.
The Maritime Rescue Co-ordination Centre in Belfast coordinated the rescue.
After running aground the vessel was knocked around by the swell, but none of the crew was injured.
All were safely transferred to the Portrush Lifeboat.
An operation is now under way to recover the vessel from the rocks.
The Lord Rank was purpose-designed to provide young people the opportunity to share the challenges of crewing a tall ship at sea. It can accommodate 18 people, including six crew.
The yacht took part in the Belfast Maritime Festival last weekend.
