Now, the 65-year-old is heading into his fifth Sydney to Hobart race, which begins on Boxing Day, aboard his own vessel for the first time - skipping his 11-year-old Elliott 50 yacht Ran Tan II with the only fully Kiwi crew in the competition.
The team, whose ages range from 18 to 65, is made up of Petersen, Keith Hogan, Hamish McGill, Elizabeth Campbell, James Horner, Brian Kent, Richard Bicknell, Tom Peyton and David Sturge.
Having sailed together for the best part of two years, Petersen said the crew had built the sort of rapport that was needed to be successful.
"There's a fair bit of banter and comradery that goes on on the boats, so we all get on really well and when times get tough you need that sort of thing."
And times can certainly get tough in the race. Now in its 73rd year, a few regattas have been hit by adverse conditions, the most notable being the 1998 race during which six people died and five vessels sank.
"Certainly they've had some shockers…but having said that we can run into similar conditions doing a race up to Fiji or across to Noumea or a two-handed race around the North Island, so I tell people that really the Sydney to Hobart is really just a slightly longer coastal race.
Petersen said with the race largely dependent on the conditions, they were only setting out to sail as well as possible; however he said he expected to finish within three days.
"When I booked accommodation in Hobart I was thinking about three days from Sydney to Hobart, so I'd be happy if we finished around midday on the 29th or before."
Last year, Kiwi-owned yacht Giacomo won the event on handicap. Petersen said the boat's former owner Kate Delegat had offered words of support for Ran Tan II's campaign this year.
"She's been telling me they're very keen to keep the Tattersall's Cup in New Zealand. So no pressure, but do your best."
While Ran Tan II will carry the only Kiwi crew into the event, Kiwi Murray Owen's Seamo Racing Mahligaiis yacht will also take part, with a crew comprised of Australian and Chinese sailors.
Other Kiwis competing in the race this year include Matt Kelway, Gavin Brady, David Brooke, William Endean, Ryan Houston, Stewart Dodson and Robert Salthouse aboard Hong Kong vessel Beau Geste; while Warwick Fleury, Nick Burridge, Brad Jackson, Tony Rae and Kelvin Harrap will race aboard Australian yacht LDV Comanche.
SYDNEY TO HOBART FACTS
- The Sydney to Hobart yacht race was first held in 1945 with a fleet of just nine vessels.
- In 2016, the race attracted 88 entrants.
- There are two winners of the race – the first over the line, and a winner on handicap.
- Only seven of the 72 races contested have seen a crew win both line and handicap honours.
- Kiwi vessels have won line honours seven times and a quartet of handicap titles.
- Australian yacht Perpetual LOYAL holds the record for the fast finish, completing the 2016 event in 1 day 13hours 31minutes 20seconds
- Kiwi Bruce Farr holds the record for most wins for a yacht designer, with 15 overall winners.
- Nine yachts have sunk in the history of the race – two in 1993, five in 1998 and one in each of 2006 and 2008.
