Two female passengers were rescued by a passing cruise liner after a distress signal was sent from a superyacht in waters off the NSW mid-north coast.
The nation's marine safety authority was told after 5am on Tuesday the Masteka 2, with six on board, had lost steering and was taking on water 280 nautical miles north east of Sydney.
The cruise ship Carnival Spirit, which was en route to New Caledonia, responded after the alert came in.
Two female passengers on the 37-metre multi-million dollar yacht came on board and underwent medical checks.
The remaining four male crew members chose to remain on the yacht and were able to get the leak under control after the Australian Maritime Safety Authority organised an air drop of two de-watering pumps.
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Tug boats are en route from Sydney but aren't expected to reach the yacht until 6pm on Wednesday.
The cruise ship stayed at the scene for several hours before continuing on to the Isle of Pines.
The rescued women could stay on board until it docks in the New Caledonia capital of Noumea.
The Masteka 2, which costs $3000 an hour to hire, boasts three levels, a hot tub on the top deck and sleeps up to 12 guests.
