Yatchet is the term used instead of the up-turned, snobby nosed "yacht" when referring to a sailing boat over 20ft long.
Verb - Yatcheting
Sailor 1: You gunna go yatcheting out on the harbour tomorrow?
Sailor 2: yeah mate.
Sailor 1: That's a nice yatchet you've got there?
Sailor 2: Certainly is.