Police say the cause of death was unclear, but there were no signs of foul play.
Inside the yacht, police found the yacht’s radio, GPS and other valuable items...
Local police spokeswoman Goldie Lou Siega in the Philippines said: “We have no evidence of a second person aboard and no weapon was found on the yacht.”
Dr Mark Benecke, a forensic criminologist in the German city of Cologne, told BILDnewspaper: “The way he is sitting seems to indicate that death was unexpected, perhaps from a heart attack.”
The German embassy in the Philippine capital, Manila, has been notified and is now working on locating Bajorat’s family.
He is believed to have a daughter who works as the captain of a freight vessel and a wife he separated from in 2008 who later died from cancer.
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