Sir Francis Chichester, 65, the intrepid, unwavering yachtsman, was approaching Cape Horn—one of the most hazardous passages of his solo trip around the world in the 50-ft. ketch Gipsy Moth IV.

Projects pending include a book and film based on the Chichester exploit. Sir Francis stands to come out decidedly in the black from the perilous 28,500-mile voyage, whose second lap ended, after ...