Fewer boats than expected are taking part in this year's Tall Ships Atlantic Challenge, due to the global financial crisis.

The 7,000 mile race — which began in Vigo, Spain, at the weekend — includes a stop in Bermuda next month for a five-day festival to help celebrate the Island's 400th anniversary.

The fleet, including the Island's own Spirit of Bermuda, are now heading south-west to Tenerife for the first part of the challenge, followed by a three to four week sail across the Atlantic. After taking part in the Bermuda Tall Ships Festival from June 11 to 15, the vessels will head to Belfast.

Bernard Heppener, chairman of the Tall Ships race committee, said: "This race series has been planned for a long time and we are delighted with the quality of the fleet, offering the opportunity to visit seven ports in one event.

"The economic situation has meant some ships were unable to take part, but for those that are, the challenge will provide their crews with an experience of a lifetime that will be unique and personal to each one."

Track the fleet at www.tallshipsraces.org.