MV Holmglen II was a steel-hull coastal trader built in 1956 by Maartenshoek, Netherlands based shipyard Bodewes Scheepswerven for the Holm Shipping Company of New Zealand. It was 485 gross tons, max speed 9 knots powered by a four-cylinder diesel engine.
On November 23, 1959, the ship left Dunedin, New Zealand for Wanganui via Wellington, under the command of Captain Edward Joseph Eugene Regnaud. On the evening of November 24, a mayday from Holmglen was received by the Taiaroa Head Signal and Radio Station, and a voice believed to be that of the captain reported, "am heeling heavily to port ... accommodation awash ... preparing to launch boat." The message was acknowledged by Taiaroa and answered by Holmglen who said to stand by for further, but this was the last communication and she was not heard from again.
A sea and air search was conducted and the wreck of Holmglen was found by another Holm Shipping Company vessel, MV Holmburn. After the crew of Holmburn spotted an oil slick, they used sonar to locate the exact position, which was later confirmed by the Royal New Zealand Navy underwater video and divers. Holmglen lies in 30 fathoms of water about 22 miles south east of Timaru,and all 15 lives were lost. An investigation by Maritime New Zealand was unable to determine the cause for the sinking.
On 10 November 2008, Blenheim dive master, Kevin Bailey died while diving the wreck.