Never heard that term.. I'm living in Kiel, Germany and they host the largest sailing event, in Europe, each year in June. It's called Kieler Woche (Kiel Week) and it's 10 days of sailing regatta's and partying. The city of Kiel is approximately 200,000 population, but they receive more than 3 million visitors in the 10 days of Kieler Woche.
One of the highlights of Kieler Woche is the tail ships. Last year, that largest tall ship here was staffed by the Russian Navy and measured some 300 ft. It was moored in front of our apartment building. Other than the tall ships, there are literally thousands of sail boats of all makes and sizes here.
Try a YouTube search for Kieler Woche 2009. What you will see is the whole city is a party zone for 10 days...
Only 3 months til the party starts.......