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The SV Vega is a 11.5 metre Ketch (a small yacht) built in 1948, without the aid of power tools and entirely of native New Zealand timber. She was owned by David McTaggart who used to sail her around the Pacific. When he became involved in Greenpeace McTaggart re-christened the Vega "Greenpeace III" ("Phyllis Cormack" and "Edgewater Fortune" being Greenpeace I and II respectively).
In 1975 a Canadian lawer bought the Vega and put her at the disposal of Greenpeace to use in its protests. In 1981 Greenpeace repurchased the Vega and owned the vessel for 11 years. In 1991 she underwent repairs in preparation for her retirement in New Zealand. From there she sailed to the Mediterranean in 1992, to be handed over to Honourary Chair David McTaggart, who based her in a small port near Rome, still available to Greenpeace for operations. Since her retirement, the "Vega" has participated in the "Nuclear Free Seas" campaign, toxics campaigns in Sardinia and the Caribbean "Thank You Tour" for countries that voted against Japanese whaling. In 1995 the "Vega" sailed back to Moruroa, to protest French nuclear testing.