A nail-biting but ‘amazing’ exercise in hauling a $3 million race boat from an ocean swell onto the deck of a 350-foot cargo ship looks certain to put the America-based Puma Racing back into contention for the Volvo Ocean Race 2011-12.

If their good luck continues, Puma will arrive safely in Cape Town on Tuesday night to have her new mast stepped in time for the in-port race on Saturday though, according to skipper Ken Read of Newport, R.I., the approach into the shipping port could pose further risks.

“With five of us still on the boat, the crane grabbed the center point of the boat and up she went with absolutely no jerking of the lifting tackle or the boat whatsoever,” explained Read.

Click here for the full report with photo of the hoisting.