Two Tauranga-built luxury launches on a container ship bound for Sydney from Auckland were swept overboard in a violent storm 200 miles from their destination.
The 12m to 13m boats, worth $1.2 million, were on deck when the Fanal Trader was battered by a hurricane-force gale on Friday.
A Far Eastern Shipping Company spokesman said a full report had still to be received.
The captain had feared for the safety of the ship and crew in conditions which closed the Port of Sydney for two days. Side railings were ripped off the vessel and containers badly damaged.
It is understood the launches were lashed to the deck with steel cables and chains. Noises were heard during the night and, in the morning, the boats had gone.
The launches were to have gone on display at the Sydney boat show.
General manager of Oliver Marine International in Tauranga, Tony O'Brien, said the loss was heartbreaking.
Fury of Tasman storm rips launches off deck
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