Searches for historic boat called off

2:00 PM

The insurance company involved in looking for the abandoned launch Ruamano has called off further aerial searches.

It is thought the 75-year-old vessel has sunk.

Her five crew members sent out a mayday in heavy seas on New Year's Eve, about 100 nautical miles west of the North Island.

They were rescued by a log ship yesterday and are en route to Korea.

The insurance company's marine surveyor, Mike Austin, says it is a waste of time carrying out another plane search, because the boat probably sank.

However he cannot explain why her emergency radio beacon did not send out a signal when she sank.

The Ruamano was on a fundraising voyage around the country for the Heart Foundation.

- IRN