Last year, Slingsby helmed the Australia SailGP Team to victory over five rival nations to take home the trophy and US$1 million championship prize.

Emblazoned with a giant kangaroo, Australian flag and green and gold paint, the Australia SailGP Team's wingsailed catamaran is the fastest and most technologically advanced class of sail race boat in the world.

The F50 made history last season by breaking the sport's elusive 50-knot barrier, reaching speeds of nearly 100km/h powered only by nature.

Slingsby has named an unchanged team that won last year.

The team features some of the best athletes in Australia, including the nation's most successful ironman Ky Hurst and Sydney to Hobart winners Sam Newton.

Lake Macquarie product Kyle Langford will serve as wing trimmer.

Olympic silver medallist and Tokyo 2020 hopeful Jason Waterhouse and Kinley Fowler round out the strong team.

"We're really excited to be back in Sydney Harbour, competing and defending the title in front of our home crowd," Slingsby said.

"Last year was huge for us - winning Sydney SailGP and the US$1 million championship in Marseille - so there's definitely pressure on us to come out strong and, ultimately, retain the title this season.

"We are all very focused on delivering another victory for Australia at Sydney SailGP."

This year, Denmark and Spain join the global racing league, taking the total number of teams to seven.

"We've got fresh competition this year, with Denmark and Spain joining the league, and Japan will be hungry to prove itself after coming so close last year, so Aussie fans can expect to see a good fight on Sydney Harbour," Slingsby said in the lead-up to this weekend's competition.

Perhaps their biggest rival out on the water will be the Japan team.

Fellow Lake Macquarie sailor Nathan Outteridge will helm the team, made up of a mix of Japanese and international sailors.

"We have always known that Iain and Luke would only be with us for our first season so, in the background, we have been working hard to capture their knowledge and transfer it onto the rest of the team," Outteridge said.

"I have been good friends with both Iain and Luke for a long time, and I personally want to thank them for the impact that they have made to our team and want to wish them all the best for the future endeavours."

Another team to keep an eye out on is the Great Britain SailGP Team, presented by INEOS. The team is led by one of the world's most successful Olympic sailor, Ben Ainslie. Belmont's Iain Jensen and America's Cup sailor Luke Parkinson come across from Team Japan.

Ainslie said: "We are looking forward to getting out on the water and competing in a highly charged racing environment against some really tough competition.

"We can't wait to get going. The squad is a combination of sailors from last year and members of the wider INEOS TEAM UK America's Cup team. Each sailor has raced these boats before, and we know each other well. It's now about putting that knowledge and experience together."

The pressure is on Team Australia to repeat their heroics.

"The team has undergone gruelling training sessions to ensure they are top of their game.

Slingsby expressed his desire show the crowds what they can do.

"I've raced around the world for my whole life and I don't usually have friends and family to watch me, so to race and lead an Australian team in this type of boat on the harbour is massive for me," he said.

The SailGP is from February 28 and 29 on Sydney Harbour.

Three races are scheduled per day, with finals conducted on the Saturday.

NSW Maritime executive director Maritime Mark Hutchings says recovery efforts on waterways are well under way.

"The size of the job is considerable in re-establishing the network of navigation markers, clearing debris and salvaging boats following heavy rainfall, and in some cases flooding, combined with recent high tides," he said. "Never have we been faced by such a widespread clean-up task ... this recent weather event has impacted waters right across NSW. NSW Maritime is using a risk-based approach in terms of the order of dealing with debris in the water or boats which require salvaging."

Six boat shows in the Asia Pacific region have been cancelled or postponed due to the threat of coronavirus. They include shows in Japan, Hong Kong, Singapore, Seoul, Kaohsiung and Shanghai.

This year's edition of the Tokyo Boat Show will not take place. The next edition will not be held until March 4-7, 2021. Organisers face availability issues for indoor venues, complicated by other industry shows seeking to reschedule their events as well.

The Korea International Boat Show has been postponed to June 5-7, 2020 while the Singapore Yacht Show has yet to announced new dates.