Tauranga sailor Molly Meech and Alex Maloney finished third in the double points medal race at the Santander sailing world cup, but missed out on a medal.

Third place wasn't enough points to lift them from fifth. They needed to win the double points medal race to take a bronze.

The Olympic silver medallists started under a handicap with their boat declared underweight at pre-regatta measuring.

A 50 per cent penalty was imposed on the first three races, leaving them in 13th after the first day in the 15-boat fleet at the invitation-only event.

They recovered well, posting top-three finishes in their last six races and also picked up two wins across the 13 races. But they had given up too much of a gap and were left to think about what might have been.

'The week was really challenging for Molly and I,” says Alex.

'We made plenty of mistakes during the event but also did a lot of things right.

'Finishing this event, we have a few regrets, definitely, but we also left everything out on the water and we are left really motivated for our next regatta.”

The pair now head to Kiel Week in Germany, a regatta they have targeted as one to try different things as they look to turn silver into gold at the 2020 Tokyo Olympics.

Fellow Tauranga Yacht and Boat Club member Trent Rippey and Josh Porebski finished fourth in the 49er medal race to finish eighth overall in the 16-boat fleet. It was a solid result for the pair who are New Zealand's best 49er crew on current form with uncertainty over the Olympic futures of Peter Burling and Blair Tuke, who are heavily involved in Emirates Team New Zealand's America's Cup campaign.

Trent and Josh had six top-five results but also made a couple of costly mistakes, not least of all being black flagged after being caught over the start line in race three.

Tauranga sailor Sam Bullock finished ninth overall in the IKA Formula Kite.

Results and standings at the conclusion of the World Cup final in Santander, Spain, overnight (NZT):

49erFX (15 boats)

1st: Martine Soffiatti Grael and Kahena Kunze (BRA) 8 1 5 2 1 (16) UFD 2 2 2 3 8 1 8 - 43 points

2nd: Charlotte Dobson and Saskia Tidey (GBR) 1 (11) 9 3 2 1 1 1 6 4 2 8 12 - 50 points

3rd: Lili Sebesi and Albane Dubois (FRA) 5 2 7 4 5 3 4 4 1 (14) 5 7 10 - 57 points

5th: Alex Maloney and Molly Meech (NZL) (14.5) DPI 12.5 DPI 11.5 DPI 1 7 5 13 3 3 2 1 2 6 - 67 points

49er (16 boats)

1st: James Peters and Fynn Sterritt (GBR) (14) 2 3 2 7 4 2 3 2 6 6 4 4 - 45 points

2nd: Lukasz Przybytek and Pawel Kolodzinski (POL) 1 4 5 5 6 2 3 (7) 5 (91) 1 3 10 - 52 points

3rd: Dylan Fletcher-Scott and Stuart Bithell (GBR) (12) 9 4.6 RDG 3 1 1 1 4 6 11 4 2 12 - 58.6 points

8th: Josh Porebski and Trent Rippey (NZL) 3 5 (17) UFD 11 4 7 13 13 9 5 5 10 8 - 93 points

IKA Formula Kite (18)

8th: Sam Bullock (NZL) 6 4 1 6 4 4 3 3 4 4 (10) RET 3 8 (10) DNF (10) DNC (10) DNC 10 DNC 10 DNC 9 5 6 5 4 5 10 DNF 8 10 DNF - 132 points