It took 15 years of hard work by a group of volunteers to get the boat seaworthy and it now goes out and about around the inner harbour for members of the Otago Harbour Ferry group.
Shem Sutherland, who was heavily involved in the restoration, said it was good to get the boat out regularly.
"It's a great example of a harbour ferry and it just shows the amount of effort and energy that the group put into restoring it.
"It’s got a lot of kilometres to go again.
"It's going to be around for another 100 years," he said.
The saltwater preserved the vessel’s timber, Mr Sutherland said.
"The trick is lots of maintenance regularly and not allowing the maintenance to build up on you."
In 1901, the Timaru Harbour Board needed a boat for pilot and general duties.
Built in Auckland and delivered to Timaru in 1902, the boat was named Elsie Evans after the wife of the chairman of the board.
It served in many roles until 1927 when it was sold to PW Moss, of Portobello, who used it to tow punts and other vessels.
On occasions he would use it for the Portobello-Port Chalmers run.
In 1943, a diesel engine was put in to maintain the Port Chalmers service, and the vessel was also used for excursions.
It was then sold again, but ceased operating in 1954.
In March 1978, it was purchased by John Sutherland, Shem’s father, who found the boat under a tree in Waihola.
It was sold again in 1992.
The boat was restored about a decade ago, Mr Sutherland said, and is now moored at Portobello.
During the restoration, the plan was to use it in a commercial capacity on the harbour.
But Mr Sutherland said a commercial operation on the harbour was not viable.
"You'd have to make a profit on top of running expenses.
"And, you know, just the economy and the way things are, there’s just not the capacity ...
"We've realised that what we've got is a heritage item and we'll run it for our members.
"And if anyone wants to run it and go for a ride, they'll become a member."
