Sydney-to-Hobart race officials defended themselves yesterday against accusations that the storm-ravaged classic, which claimed up to six lives, should not have gone ahead.
Mr Hugo van Kretschmar, commodore of the Cruising Yacht Club (CYC) of Australia which organises the race, said an inquiry would be held, but he rejected suggestions that the blue-water classic should have been called off.
He described the disaster as "a freak event" caused by much worse-than-expected weather.
"All competitors were reminded of their obligations," he said, with international yacht racing rules saying the skipper or owner is solely responsible for a decision to start or withdraw from a race.
The Bureau of Meteorology had predicted 25- to 35-knot winds, but the fleet was eventually hit by gusts of up to 95 knots.
Mr Roger Badham, a professional forecaster for yachtsmen, said he was amazed so many yachts had survived.
"It was definitely going to occur. It was just a matter determining where it would happen," he said.
"On the day of the race, just after it started, I saw the next global prediction and I said, `Oh shit, this is Armageddon'."
The US billionaire, Mr Larry Ellison, criticised officials after his 24-metre maxi-yacht, Sayonara, won the race.
"Everyone lines up for this race expecting a difficult race, but no one expects a dangerous race," he said.
"You know this is not what this is supposed to be about . . . Difficult yes, dangerous no, life-threatening definitely not. And I think a lot of us are upset.
"We were learning of people dying. That's not what this is supposed to be about."
The death toll rose to five yesterday as rescuers searched for a sixth missing crewman from the Winston Churchill.
The Australian Maritime Safety Authority spokesman, Mr Brian Hill, confirmed that four yachtsmen were dead, and the British Olympic sailor, Glyn Charles, was missing, presumed drowned.
The bodies of two dead crew from the Winston Churchill were recovered early yesterday, and there were grave fears for a third crew member who was washed from a life-raft on Monday.
Two crew from Business Post Naiad died on Monday when the yacht capsized.
Mr Hill said the toll could have been far worse but for the bravery of navy helicopter crews who snatched more than 50 crew from the savage seas.
"They've done a great job in extremely dangerous conditions," he said.
The owner-skipper of the Winston Churchill, Mr Richard Winning (48), was shocked to learn during a live television interview that three of his crew were lost.
He had been winched by helicopter with three other survivors from a life-raft late on Monday, about 24 hours after his yacht sank in the rough seas. Two other yachts which had been reported missing, the Solo Globe Challenger and the Veto, were located yesterday.
The navy frigate HMAS Newcastle reached the Solo Globe Challenger, and two injured crew were winched on board.