All America's Cup teams, with no exceptions, are on holidays and all bases are closed and packed. There is hardly any exterior construction going on in the bases, except Mascalzone Latino - Capitalia Team and Victory Challenge.

The great novelty this new year is the arrival of the two former Le Défi Areva boats (FRA-46 and FRA-79) to be used by China Team. CHN-79 (former FRA-79) will be coverted to rule 5 and is expected to sail next spring and be used for racing throughout 2006.

All construction efforts are now focused on finishing the new canal that will connect Port America's Cup to the sea, eliminating thus the need to cross Valencia's busy commerical harbor.

In fact, the interior basin is completely isolated from the rest of the harbor and on January 9 the final stretch of land that separates the two parts of the canal will be opened.

Valencia's harbor is being rapidly transformed, with no time to waste as the next Louis Vuitton acts will start in just five months.