A lovely event on the water!
The crew holding position closest to the coordinates shall be deemed The Buccaneers. We will then form up in a small flota or flotte, or possibly a squadron, depending on size, and play follow-the-Commodore to assigned directions and/or destinations TBD. There may be a drawing, or water balloons, or other activities, depending on weather. An award may be given to the crew who best holds their bearings. All judgments of the Commodore shall be considered final. Please, no wagering.
Warning: The hint is pretty much a spoiler.