Two-Masted Sailing Vessel and a Drinking Glass
Puzzle 17 of Sailing Hard Pack
Question is: Two-Masted Sailing Vessel and a Drinking Glass
and the answer is: SCHOONER
Word Meaning:
SCHOONER — (nautical) A sailing ship with two or more masts, all with fore-and-aft sails; if two masted, having a foremast and a mainmast.
Definitions from Wiktionary.