The MV Wainui III began its life as the Whangaroa, and was built in 1955 by Clydebank's John Brown and Company for the New Zealand Shipping Company, London. After 10 years of service, it was sold to the Union Steam Ship Company (USSCo) in 1965 for work on the Eastern trade route, but only served the USSCo for five years before an industrial dispute in 1970 resulted in it being strikebound for 142 days.
The USSCo eventually withdrew from the Eastern trade, which it had been involved with since 1887, and the MV Wainui III was sold to the British India Steam Navigation Company in 1971 who renamed it the Warina. Shortly after, it was sold again to Admiti Shipping Company in Famagusta and renamed Garoufalia.
In 1974, the ship was finally sold to shipbreakers in Kaohsiung, Taiwan.