Everything was being done as quickly as it could be, and the best experts in the world were working on it.
Mr Key said no one should under-estimate the challenges faced - a significant amount of oil was now on the beach and at Motiti - and there was a lot of work ahead.
Mr Key yesterday visited the Maketu Estuary on his way to Tauranga.
He found protection booms across the entrance to the estuary and very little oil had, at that stage, had passed through.
He wouldn't put a cost to the salvage and clean-up, and he was unsure about a suggestion put to him that the insurance on the Rena was capped at $14 million.
Bay of Plenty business owners are predicting a disastrous summer trading season in the Western Bay as a direct result of the Rena disaster.
But many remain positive that the community will get through this catastrophe.
Business owners in Mount Maunganui said they relied heavily on holidaymakers and tourists during the summer months and if people didn't turn up this summer, their businesses might suffer.
Some have already felt the effects of the Rena disaster and now fear for the livelihood of their businesses while others approached the situation with a "wait and see" point of view.
Discovery Surf School owner Tully Farrell has been concerned since the day the ship hit Astrolabe Reef and said it would have direct effects on his business.
"Definitely I'm worried and I'm already fielding calls about prior bookings in regards to what's happening and what could be happening.
"I have had some cancellations, the last two to three weeks we've had an influx of tourists ... summer is what keeps us going and obviously this is going to affect me for sure
"But it's not just me, this will have a direct impact on businesses for sure and there's a lot of upset locals running around."
Mount Maunganui Beachside Holiday Park manager Mark Hales said the feeling in the camp was "shock and disbelief".
"People are still arriving and coming in to stay but I suppose this time of year it's too cold to go swimming so they're probably not worried about it at this stage but when the weather gets warmer then we could really start noticing the effects," he said.
"We haven't had anyone cancelling at this stage but my concern is how long this is going to take to get cleaned up because that's when we will start feeling the effects."
Slowfish Beachfront Cafe owner Brigitte van Weele said the mood in Mount Maunganui was tense and locals were "very stressed out about it".
"We've got to look at things from a more positive note and hope that the salvage crew are on top of things but it's 50/50 at the moment, things could go either way. Business is ticking along as usual with a lot of people coming down to the beach to have a look and all the salvage crew and other officials staying here so that keeps things going. It is a little quieter with the wet weather, but I think it's too soon to say what effect this will have.
"This is definitely something we can do without but, now that it's happened, we just have to deal with it. We have to have faith that the people know what they're doing and all we can do is take it one day at a time."
Aaron Leech, owner and manager of Gateway Motor Inn on Maunganui Rd, said the grounding of Rena was a "disaster" but the business had found light in the darkness as the salvage company was staying at the motor inn.
"The summer season is extremely important for us and I think the accommodation sector will surely suffer because we have three to four amazing months here and if we have no beach then we will have an extremely slow summer." At Tay St Beach Cafe owner Joseph Goddard said the stricken vessel was on everyone's mind".
"We aren't too concerned at this stage, but it depends what happens over the next couple of months. We have our fingers crossed that summer trading will stay positive."
Mr Goddard said the business was still "really busy" thanks to the school holidays.
Chief executive of Tauranga City Aquatics Ltd (TCAL), Tania Delahunty, said not being able to swim in the sea was a concern but it was "a two-sided coin" for the council pool operator.
"December and January are particularly busy months and in this time we have a reasonably high percentage of non-residents, with many coming from the camp ground or hotels and motels, but it's a two sided coin.
"Not having the non-residents will impact us but the hot pools or Baywave are two safe alternatives from swimming at the beach.
Ms Delahunty said sea water was used from Pilot Bay to source the hot pools but on Tuesday the supply was switched off so polluted water didn't enter the pool facility.
"So now we're putting the town supply in and adding salt so it still feels like sea salt water but is safe and clean."
