KEY POINTS:
The country's only sail training ship is going to need millions of dollars spent on it to stay afloat.
The Spirit of New Zealand was launched 21 years ago and notched up its 500th 10-day voyage around New Zealand in June.
However, the Spirit of Adventure Trust which
runs it said $500,000 was needed every year for the next 10 years in addition to its operating budget to keep the ship in the water.
After 10 years the trust would need an extra $750,000 a year.
The extra money was on top of the $3 million a year it cost to run the ship and give each young sailor a 40 per cent subsidy on the cost of the voyage.
The trust was formed 35 years ago when Auckland industrialist Lou Fisher and his wife Iris had a vision to provide the country's youth with a tall ship and the topsail schooner Spirit of Adventure was launched in 1973.
The Spirit of Adventure was joined by the Spirit of New Zealand in 1986.
The Spirit of Adventure was sold to a Fiji company in 1997 and since then the trust has operated only one ship.
Lou Fisher died in 1977 and his son Stephen Fisher took over as chairman, a role he still holds after 30 years.
Stephen Fisher said in the trust's latest annual report the additional $500,000 a year would cover running repairs, maintenance and annual survey costs as well as an enhancement programme.
Trust chief executive John Lister said the steel ship would last another 30 years only if the enhancement programme was done.
He said the programme could include an engine overhaul, new rigging, rewiring and new hull plates.
Some of the work could put the ship out of action for two or three months but staff still had to be paid.
A new ship would cost $22 million but the Spirit of New Zealand was designed for New Zealand conditions and was ideal, he said.
"I don't think if we had the choice today any one of us would change one thing associated with her right now.
"She is still not only beautiful, she is functional, she is built especially for New Zealanders even down to the size of the bunks.
"This is a great success story of New Zealand and long may it remain that way but New Zealand is going to have to get behind her."
He said the ship had a punishing schedule not matched anywhere in the world and was at sea 342 days of the year.
The trust had carried 75,000 young New Zealanders on voyages around the country.
- NZPA