The Queen officially launched yachtsman Pete Goss's new wonderyacht - 'Team Philips' - on Tuesday, carrying out the honours at St Katherine's Quay in London.

It was the first time that the Queen has named a racing yacht, and afterwards Pete, who lives in the Torpoint area, said the day had been 'just everything it could be'.

Following the royal occasion the huge boat, built at a yard in Totnes, was due to be taken back down the Thames to return to Dartmouth for adjustments to be carried out to the rigging. Trials at sea will then take place before 'Team Philips' begins its attempt to sail non-stop around the world in under 71 days. The real aim, however, is to win the prestigious yachting race - just entitled 'The Race' - which will start from Barcelona at the end of 2000, and has been arranged to mark the Millennium.

It has attracted entries from the best sailing craft in the world. Pete said: 'That's the driving force behind the project. Everything we do is a step to that goal.'

Among those watching on as the Queen cut a ribbon to allow a bottle of wine to hit the catamaran's underside, was John Kelly of Chapeldown Road, Torpoint. He said St Katherine's Quay was cleared of the general public some two hours before the Queen was due to arrive, but a large crowd 'retreated to Tower Bridge, where the ones adjacent to the parapets had an excellent view of the proceedings.'

Pete described the West Country project as 'honest, generous and fun' and said the boat was in good shape. On its maiden voyage from Dartmouth to London he said 'Team Philips' was able to reach speeds of up to 23 knots under light winds.