The ship, which is about 10 metres long, took five days to get to the point photographed on December 19, with Zungu likely to keep the sculpture up until Christmas Day.
The Dolphin Coast Residents and Ratepayers Association (Docrra) has led the campaign against the sale, objecting to what they believe is an irregular sale of public land.
Of the 34 athletes who started the trek, three turned back owing to acute mountain sickness, while a fourth was transported to Kathmandu via helicopter. Of the 19 who pushed on, only nine were able to.
The sugar giant's Board said it believed business rescue was the most responsible step in the circumstances, potentially offering a better return to stakeholders than a forced liquidation.