Police have made the largest cocaine seizure in Australian history following an investigation into a transnational organised crime syndicate accused of conspiring to import more than two tonnes of the drug into Australia.

Australian police seized the country’s largest haul of cocaine aboard a fishing boat that had broken down near the coast of Queensland, arresting 13 people alleged to be part of a drug-smuggling syndicate.

Australian authorities seized over two tons of cocaine over the weekend worth nearly $500 million after the fishing boat that smugglers used to sail the drugs into Australia broke down — the largest ever seizure of cocaine in Australia.

This is the biggest haul of cocaine ever seized in Australia, with an estimated resale value of AUS $760m (£388m), police said. The drugs came from an unidentified country in South America, investigators in Brisbane said on Monday.