Visions of an abandoned yacht drifting at sea have been sunk by Maritime NZ, who admit an emergency positon beacon transmitting north of White Island does not indicate the position of the ketch Morning Star.

The 44-foot, 13.4m yacht was abandoned by her two-man crew at daybreak on Sunday after they sent a mayday call at 4.10am reporting the vessel was taking on water.

The last sighting of Morning Star on Sunday. Picture: Auckland Rescue Helicopter Trust.

They were picked up by the Auckland-based Westpac Rescue Helicopter. The beacon continued to transmit, and a position 83km north of White Island was confirmed by Maritime NZ on Wednesday.

However, Morning Star's skipper contacted Maritime NZ after SunLive reported the beacon was still active.

'I've just been advised that the beacon is not actually on the yacht,” says Maritime NZ spokesman Steve Rendle.

'The skipper apparently removed it during the rescue, but somehow it ended up in the water. It is still transmitting but obviously it does not provide the position of the yacht.”

Beacons can continue transmitting their position for up to seven days.

The Morning Star is believed to have been making its way from Opua to the Marlborough Sounds when it ran into trouble while crossing the Bay of Plenty.

Maritime Radio first heard from the Morning Star at 2.30am on Friday, with a report that the engine had broken down.

It was then positioned 20 nautical miles (37km) east of White Island, with the skipper seeking a tow to Whakatane. However, no vessels were available at that time.

Hampered by damaged sails, the crew attempted to reach the coast throughout Friday and Saturday. At 4.10am on Sunday, they reported the yacht was taking on water, the pumps were not coping and the crew wanted to abandon ship.

A nearby ship, the Asian Adonis, offered to assist and started steaming towards their position. The Rescue Coordination Centre NZ then dispatched the Westpac Rescue Helicopter from Auckland and they arrived on scene at first light.

The two men on board, aged in their 50s and 60s, were winched off the deck and transported to Tauranga Hospital for medical assessment. They were later reported to be uninjured.

They were taken off as the yacht sat around 139km north-east of Tauranga. The yacht's beacon has since drifted west and was yesterday about 83km north of White Island.