Kaiwo Maru was a Japanese ship built in 1930, the sister ship of the famous Nippon Maru, currently opened as a museum in Yokohama.
It was replaced in 1989 by Kaiwo Maru II, which is currently a sail training ship.
Kaiwo Maru II won multiple times The Boston Teapot Trophy, an award given to the sail training vessel that covers the greatest distance within 124 hours.
Last year, in 2010, Kaiwo Maru II visited San Francisco to commemorate the 1860 voyage of the Kanrin Maru, the first Japanese ship to officially visit the United States.
I met Kaiwo Maru II a few weeks ago, anchored near Tokyo Big Sight. Here it is, a beautiful ship on a perfect setting (for photography):