The vessel was initially used as a ferry, but was later purchased by a Greek businessman who converted it to a private yacht in 1985. Today the Alexander is the property of Spyros Latsis of the Greek armature dynasty Latsis. The yacht is used for charter operations. The vessel can take on board up to 60 passengers. The boat used to be called MERCATOR ONE, FRANCFURT I and REGINAS MARIS.
