When it was no longer economical to continue using the Lene Marie as a commercial vessel she was converted into a private yacht.

According to legend this was the ghost of a sailor who drowned in his bunk when the ship sank in World War II.

In November 1996 Lene Marie was lost en route from New York City to Bermuda.

As a result of the engine problems it was decided to abandon the ship and a radio distress call was made.

The crew were all successfully transferred to the freighter MV Arctic which had responded to the distress call.