MANY of Hong Kong's hottest yachts are on parade in Port Shelter this weekend in a final tune-up ahead of the inaugural China Coast Cup Series which begins on October 23. The Hebe Haven Yacht Club host the annual Champagne Mumm-Port Shelter Regatta which will see Richard Strompf's 53-foot Jeppesen-designed X-Rated at the vanguard of the fleet yet again. But he will face stiff opposition from Keith Jacobs'new-look Bimblegumbie, a former IOR racer which has had an extensive refit to race in IMS and CHS classes. In fact Bimblegumbie beat X-Rated home by a just nine seconds in a recent regatta hosted by the Aberdeen Boat Club, an indication Jacobs has his 40-footer flying. Steve Ellis, aboard 38-footer Wizard, his new MRX, has been going better and better in recent weeks. With constant tuning, Wizard should be at her peak for the opening Olympic triangle course race today. One of the most impressive boats so far this season has been John Vause's new Young II, Ruby Tuesday. Vause first turned the boat out midway through the recently completed Typhoon Series, also hosted by the Hebe Haven Yacht Club, and did much better than expected. In addition to the strong contingent of cruiser-racers, there will be a big fleet of X-99s, Impalas and Dragons vying for silverware. Racing continues tomorrow with windward-leeward and island courses. Meanwhile, on the international scene, Spanish yacht Galacia 93 Pescanova has taken over the lead in the Whitbread 60 class of the Whitbread Round the World Race, while New Zealand Endeavor continues to head the Maxi class as the boats entered the doldrums of the mid-Atlantic. Galacia passed the Japanese-New Zealand entry Tokio on the 13th day of the nine-month, 37,000-mile race. Latest reported positions Friday morning had the Spanish yacht opening up a nine-mile lead. Endeavor, skippered by Grant Dalton, had a five-mile advantage over Merit Cup of Switzerland at the head of the overall fleet, with some 3,500 miles to go before the end of the first leg at Punta del Este, Uruguay. Galacia and Tokio were third and fourth overall. Winston, Dennis Conner's American entry in the Whitbread 60 class, was third in its category and fifth overall.