The Nelson-based Amaltal Columbia caught fire about 85km off Lyttelton Heads about 5.20am on Wednesday, forcing the crew to seal off fire-affected compartments and abandon ship to await rescue from two nearby fishing vessels.
Oamaru resident Jim Curwood said he was not surprised to hear that rival fishing vessels had gone to aid the stricken ship, as he had taken part in a similar rescue involving a Norwegian trawler on February 26, 1994.
Mr Curwood said he had been a deckhand on a fishing boat, Sharron Jay, off the Oamaru coast when the call came through from Wellington asking the boat to help the fire-stricken Longva III.
Mr Curwood said the trawler reported its position as about 35 nautical miles off Taiaroa Head.
Sharron Jay was about 14 miles from the trawler.
"We headed out there and the guys were already in the liferafts.
"The fire had been contained when we got there. The crew had managed to seal the compartment."
Mr Curwood said Sharron Jay took about 28 people, a mix of New Zealanders and foreign workers, to Oamaru.
Following the incident, the rescued sailors had been treated to free clothing by local shops, and Mr Curwood and the rest of the Sharron Jay crew had been feted by local hotels, he said.
Longva III was towed to Port Chalmers where the fire was put out. It spent two months undergoing repairs in Lyttelton.