The 68 ft boat, designed by Dubois and built in China by Shanghai Double Happiness Yachts, is sponsored by Liverpool City Council and called Liverpool '08 - all the yachts will be sponsored by cities or countries, with Durban, Western Australia and Jersey already on board.

The firm has also awarded Fast Track Sailing a new eightyear contract to act as exclusive global commercial and media partner for the Clipper Round the World Yacht Race with the job of raising £27m in sponsorship over the next four Clipper races.