Kiwi one of two rescued from sinking yacht off NSW coast

1.00pm

SYDNEY - A New Zealander was one of two men rescued today from a sinking yacht that capsized while sailing from Australia to New Zealand.

John Eden, 54, from Coffs Harbour, and New Zealander Grant Kidd, 46, spent more than 14 hours bailing water from their stricken yacht, about 210km southwest of Lord Howe Island.

Australian Maritime Safety Authority spokesman Ben Mitchell said a rescue boat reached the men early this morning and was taking them to Lord Howe Island, 700km north-east of Sydney.

Mr Mitchell said the two men were unhurt but exhausted.

They were sailing to the Bay of Islands when they ran into bad weather.

Mr Mitchell said their 9.4-metre yacht Cloud of Islands lost its mast and began taking in water about noon yesterday.

"We suspect the boat had capsized and they lost their mast," he said. "The hull had been breached and was taking in water."

Mr Mitchell said the sailors activated an emergency beacon.

"They deployed the life raft and were bailing water out of the yacht to keep the yacht afloat," he said.

Aircraft maintained contact with Mr Eden and Mr Kidd, guiding the rescue boat from Lord Howe Island to the yacht.

Mr Mitchell said low cloud and thunderstorms made conditions difficult for aircraft during the rescue effort.

The men were expected to arrive on Lord Howe Island later this morning.

- AAP