A yacht has sunk in deep water off Port Stephens overnight, promoting a major emergency rescue response.
Three men were sailing their 12 metre yacht "Eleanor Dawn" from Sydney to the Mid North Coast just before 8.00pm on Wednesday when they decided to make for Nelson Bay for an overnight stay.
However, the vessel struck rocks on the south east side of Fingal Island and quickly sank.
The trio aged 70, 63 and 62 took to the water wearing life jackets and set off an emergency beacon.
This prompted a coordinated response from Canberra.
Water Police, Marine Rescue and at least two rescue helicopters were sent to the scene.
The men spent 40 minutes in the water before they made it to shore on Fingal Island where they were collected by a RAAF Helicopter and flown to Williamtown RAAF Base.
They were assessed by paramedics but did not require treatment.
The yacht, built in 1983 was worth about $12,000.
Police say its not clear if the vessel will be salvaged.
It's believed the yacht may have been struck by a Bombora off Fingal Island.
