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That my friend is a Chilean flag and that would make it the flag ship of the Chilean navy on which every sailor and officer of their navy learns the history of sail. It also is the navy’s world travelling university.
Edit: It is currently anchored 100 Mile east north east of me in Jarvis Bay Australia.
The ARM Cuauhtémoc BE-01 is a Sail Training vessel similar to the USCGC Eagle, designed to train officers and cadets of the Mexican Navy. She is the last of 4 sisterships built by the Naval Shipyards of Bilbao, Spain and named for the last Aztec Emperor Cuauhtémoc. Cuauhtémoc was captured by Hernán Cortés and with his execution in 1525, ended Aztec rule of present day Mexico to Spain.
Like her sisterships, the Colombian Gloria, the Ecuadorian Guayas and the Simón Bolívar of Venezuela, the Cuauhtémoc is a sailing ambassador for her home country and a frequent visitor to world ports, having sailed over 400,000 nautical miles in her 23 years of service with appearances at the Cutty Sark Tall Ships' Races, ASTA Tall Ships Challenges, Sail Osaka, and others.
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