The Australian Maritime Safety Authority (AMSA), the RAAF and NSW Police have come together to help rescue two sailors who ran into trouble in the Tasman Sea about 300 kilometres East of Lord Howe Island.
Two crew members were travelling on a 14.2-metre sailing vessel when severe weather struck in the early hours of Monday morning.
The authority said the sailors faced 10m seas and high winds.
At about 3am AEST on Monday, a family member told the AMSA's Response Centre the boat suffered damage to its steering and was taking on water.
About 2 hours later, an emergency beacon was activated.
AMSA sent out its Melbourne-based challenger rescue aircraft, the authority said in a statement.
Multiple Air Force aircraft have been flying over the boat since yesterday, providing "overhead visual reassurance".
"AMSA had also diverted two merchant vessels, one of which is now in the area," the authority said on Tuesday afternoon.
"The NSW Police vessel Nemesis is still en route and is expected to arrive about 11pm tonight."
Footage of the vessel published by the AMSA appears to show damage to its sail.
Despite being stuck for more than a day, the sailors are reportedly doing well.
"AMSA has been in contact throughout with the crew and their family and all are in good spirits," the authority said.