A rescue helicopter winched two shipwrecked yachtsmen to safety last night, leaving all but six saved of the dozens missing or at risk in a storm that overwhelmed the annual race from Sydney to Hobart in Tasmania.
The latest survivors held out little hope for three shipmates from the abandoned Australian cutter, the Winston Churchill, who were swept off their life-raft before the rescue.
Sunday's gale, with 130 k.p.h. winds whipping waves six metres high, devastated the fleet of 115 competing in the 630-nautical mile race, the world's most famous blue water event.
Two competitors are known to be dead. The British Olympic sailor, Mr Glyn Charles, is also missing, swept overboard from the 13-metre Australian yacht Sword of Orion.
Helicopters fitted with heatseeking equipment plucked at least 56 sailors from dismasted yachts or swirling seas. At one stage up to a dozen lives were feared lost.
Rescue services readied themselves overnight for a last-hope search of the area.
Two survivors from the Winston Churchill, built in Tanzania in 1942 and the oldest boat in the race, described how they were unable to save three crewmates who were tossed out their raft by the waves after riding out the night in mountainous seas.
A spokesman for the Australian Maritime Safety Authority said the rescue operation would resume at first light - more than 20 aircraft took part yesterday - although he held out only "a slight chance" for their survival.
The three from the Winston Churchill were wearing life jackets and other safety gear.
By last night, only 46 of the 115-strong fleet were still racing.
The race leader, Sayonara, owned and skippered by the US computer executive, Mr Larry Ellison, and with Mr Lachlan Murdoch, son of the Australian media tycoon, Mr Rupert Murdoch, on board, was leading the defending champion, Brindabella, early this morning.
The British Olympic sailor, Mr Charles, a Star class specialist and veteran of four Admiral's Cups, was lost overboard when the Sword of Orion rolled at about 7.30 p.m. (8.30 a.m. Irish time) on Sunday.
"He has been out there in 10metre waves and 80 k.p.h. winds," said an AMSA spokesman, Mr Robin Poke. "He will be a superman if he makes it."
The two confirmed dead were from the 12-metre Australian yacht Business Post Naiad, which lost its mast and rolled on Sunday after a nine-metre wave smashed into it.
Seven other crew members were winched to safety from the stricken yacht yesterday morning. The two bodies were to be picked up later when the seas subsided.
Crew members from yachts that limped into fishing ports like Eden, on the south coast of New South Wales, told tales of survival in waves the size of two-storey buildings.
"Most of the crews are in survival pattern," said Mr Kevin Lacey, a crewman from a retired yacht, Innkeeper. "They're not racing any more. It's a fight to stay alive out there."
Mr Justin Slattery, of Enniscorthy, Co Wexford, who is on board the Nokia, is believed to be unscathed by the gales and mountainous seas.
Mr Slattery (24) who is taking part in his second Sydney to Hobart race, has been interested in yachting since he was a boy. He was trained in Cobh, Co Cork and has taken part in many international races.
His father, Mr Jim Slattery, told The Irish Times last night that while he had heard nothing from his son, he believed he was all right. He had been following the race on the Internet and the Nokia was placed third.
"He loved sailing since he was a child. He started wind-surfing at an early age. Sailing is his whole life," he said.