Friends of missing yachtie Paul Van Rensburg are "shattered" that a search of his yacht this morning failed to find any sign of him.
Mr Van Rensburg had not been seen since March 12 when he left Tauranga on his yacht, Tafadzwa.
He was due in Gisborne on March 14 but failed to arrive.
His yacht was found yesterday about 1.45pm by a Royal New Zealand Air Force Orion on a training flight, about 60 nautical miles (110km) west of the Chatham Islands.
The Rescue Coordination Centre New Zealand (RCCNZ) contacted a fishing vessel in the area yesterday, which attempted to hail Mr Van Rensburg's yacht but received no response.
Its crew boarded the yacht this morning and Mr Van Rensburg was not there, RCCNZ said.
It now appeared he had fallen overboard.
His dinghy, liferaft, kayak and emergency beacon were all still on board.
Mr Van Rensburg's dog Juanita was found on board the yacht and had been fed and watered, his friend Warwick Gowland told NZPA.
He said yesterday that Mr Van Rensburg's friends were elated the yacht had been found and were hopeful Mr Van Rensburg would be on board.
This morning, he said the group were "pretty shattered" that he was not on board.
They were still holding out hope Mr Van Rensburg would be found, though.
"It's really hard to say (what their next steps would be) right at this minute but we have to look at all options and look at them seriously."
Mr Gowland said they may look at land masses in the area in case Mr Van Rensburg had made it to one of those.
"There's a lot of questions to be asked and answered," he said.
He yesterday said the yacht was found in an area outside the RCCNZ search.
"We don't believe they kept their search going long enough," he said.
"They cut it off way too early, it's that simple. It was out there."
RCCNZ search and rescue mission coordinator Geoff Lunt said this morning the fishing vessel was now preparing to tow Tafadzwa to the Chatham Islands.
"We're naturally very disappointed not to have found Paul safe on board the yacht. Our thoughts are with his family and friends. Unfortunately there is nothing further RCCNZ can do at this stage."
