The propeller that fell off the Interisland ferry Aratere in Cook Strait has been found.
The company hired to recover the propeller, Seaworks, found it on Saturday morning, Kiwirail said.
Spokeswoman Sophie Lee said she couldn't yet confirm its exact location.
"Seaworks seem fairly confident that they'll be able to recover it,'' she said.
It would take about two weeks to prepare equipment for the retrieval, which would also depend on weather conditions, Ms Lee said.
The Aratere, which recently underwent a $54 million revamp, lost the propeller during a crossing on November 5.
The ferry was expected to be out of service for up to six months, reducing Interislander's freight and passenger capacity over the summer.