A search has resumed in Lough Derg after the discovery of an upturned speedboat in the water last night.

The alarm was raised when the 20 ft vessel was spotted in the Youghal Bay area of the lake, close to Garrykennedy on the Tipperary side.

The boat's owner has been identified, but hasn't been found.

The Killaloe Unit of the Irish Coastguard along with the Shannon Based Helicopter have been involved in the search which resumed at around five o'clock this morning, while a shoreline search is to be carried out.

Garda and navy divers have also been asked to help out, and a local dive unit will be in the water later.

The speedboat's been removed for examinations, and Station Officer with Valentia Coastguard Jim Guirey says it has been damaged.