Police on Monday conducted an aerial search of Stewart Island where a second dingy from stricken fishing boat the Easy Rider washed ashore but have found nothing of significance.
The inflatable boat was found at Masons Bay on the west coast of the island on Sunday.
Nine people, including a seven-year-old boy, were on the fishing boat when it was hit by a rogue wave in Foveaux Strait on 15 March.
One man survived, four bodies have been recovered and four remain missing.
The dinghy will be taken to Half Moon Bay on Stewart Island for further examination.
Senior Sergeant Dave Raynes, of Invercargill, says a helicopter search of the area where the dingy was found uncovered nothing of significance.
Family members of the four missing people have been informed.
Another dinghy was earlier found near the scene of the wreck.