This festival celebrates the sea, maritime trade, and the gods of the sea, navigation, and the weather. It has existed in a number of forms over the past 2,000 years, and it currently includes a series of boat races, the Shipwrights' Ball, and guild-sponsored galas at the Copper Cup festhall.
According to tradition, the winners of the various competitions donate their trophies and earnings to the priest of Umberlee at the conclusion of the festival.
The last two days of Fleetswake are the occasion of the Fair Seas Festival. At sunset of the final day, all collected coin is placed in chest and dumped into the deepest part of the harbor, an area long known as Umberlee's Cache.

Fleetswake
Festival