The vessel is one of five vessels to come to grief in Tauranga Harbour due to wild weather yesterday
A mast remains sticking out of the water in Pilot Bay this morning, marking where the yacht has sunk.
Bay of Plenty Regional Council deputy harbour master Chris Isherwood said the boat was believed to be the 15 tonne ferro cement Nikita, and they were contacting the owner.
While the boat held 400 litres of diesel, none appears to have escaped into the harbour.
For full story head to Bay of Plenty Times.