Steered by Manila Bay Yacht Club Commodore Ray Ordoveza, Karakoa negotiated the 38-mile journey from Nasugbu to Manila Bay with a corrected time of 5:37:11, beating by as much as eight minutes defending champion Stella.
"This is our territory, so it’s just proper that we take this one," said Ordoveza, the only Filipino in what is turning out to be a three-way race for open racing class supremacy.
The other two are Briton Fred Kinmoth, who owns the second leading Stella (10 points) and Australian sailing ace Neil Pryde, skipper of Hi-Fidelity (13 points).
After a masterful second day performance Wednesday, Stella, which has a Sydney 38 design, slowed down to second place with a corrected clocking of 5:45:48 in this premier sailing event backed by major sponsors Nokia Philippines, Smart and the Philippine Sports Commission.
Hi-Fidelity, a Sydney 46-designed boat, slumped back to 5th place with a 6:10:29, finishing behind compatriot Australian Maid (6:05:28).
Participating sponsors of this four-day event are Nestle Philippines, Coca-Cola, Philippine Airlines, Tanduay, San Miguel Corp., Nike, ABS CBN, Manila Harbour Centre and Neil Pryde, with support from the Philippine Navy, Department of Tourism and the Philippine Coast Guard.
Rounding out the top 10 are Maligaya (4th, 26 pts.) Balangjai (5th, 27), Australian Maid (6th, 31), Helsal II (7th, 34), Jelik (8th, 37), Outrageous (9th, 45) and Free Fire (10th, 46).
In the Cruiser Racer division, Jo De Ros of American George Hackett pulled away from the pack with six points, following a strong second place finish of 6:00:36.
Rapparee II of Irish David McKenna, who topped the Cruiser Class with a corrected time of 5:59:01, however still remained at fifth spot with 24 points, behind second-leading Sandoway (2nd, 12 pts), Vivaldi (3rd, 19 pts) and Lethal Weapon (4th, 22).
Freewheeler leads ruled the Cruising Class with 9 points after a 2nd place finish in race 3 at 6:20:29.
The regattaís final two races ó the Philippine Airlines/Tanduay Race and the Harbour Center Port Terminal Race ó were still being held as of presstime. Club sponsors are Club Punta Fuego, Maya-Maya Yacht Club and Taal Lake Yacht Club.