Seajet
...
That boat is sailing full and by. This is slightly different to close-hauled, being defined as close-hauled with sails full. Then there's close and by which involves sailing close-hauled, erring towards luffing. Never heard of fine reaching myself, must be a new expression, possibly between close hauled and close reaching. Which is sailing full and by.
Complicated business this sailing.
Salty John,
yes a fine reach is full and by, between close hauled and a close reach, with the sheets cracked off a touch and the sails rather than helm being played; a good way of making progress to windward into strong winds and / or waves.
As far as I recall it's quite an old term, probably from the days of clippers ?
Andy