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MKII translates to "Mark 2." It signifies the second edition of something, such as an airplane or a boat. It was originated by the British. The U.S. used to use "dashes" to denote the same thing, i.e. "-2".
Hull speed is usually described as maximum theoretical hull speed, which, for a displacement boat such as a keel boat, is calculated by taking the square root of the waterline length of the boat in feet and multiplying it by 1.34. This is the theoretical fastest speed at which the hull should be able to go through the water, although in reality such hulls can go faster. Wind, waves, and sail trim all factor into the speed.