Can't confirm this but my sources say this is Ringo Starr's (Beatles) yacht, the Lady M II. Presumably, Lady M is from their song, Lady Madonna.

This was taken in Sep 2010 near Wildwood, NJ, at the very southern end of New Jersey. I was on a nature cruise of the marshes on a skimmer boat.

By the way, do you know where "Jaluit" is?
(Jaluit Atoll is a large coral atoll of 91 islands in the Pacific Ocean, and forms a legislative district of the Ralik Chain of the Marshall Islands. Its total land area is only 11.34 square kilometres (4.38 sq mi), but it encloses a lagoon with an area of 690 square kilometres (270 sq mi). Most of the land area is on largest islet of Jaluit (10.4 km²).)