The Swedish team vying for the America’s Cup launched its second 72-foot catamaran on Monday, 2-1/2 months after its first twin-hulled racing yacht capsized, killing a crew member and grounding the challenge by Artemis Racing.

Team owner Torbjorn Tornqvist, speaking at a private christening ceremony in the San Francisco suburb of Alameda, called the yacht’s first sail “the culmination of a heroic effort to put together this beautiful boat.”

Its 131-foot (40-metre) wing sail displays a tribute blue ribbon to Olympic gold medallist Andrew Simpson. The 36-year-old British father of two young children was trapped underwater after his team’s high-tech catamaran capsized and broke apart on May 9.

“I don’t think anyone fully appreciates the hill Artemis Racing has climbed to get to this point,” Regatta Director Iain Murray said.

“They’ve worked tirelessly.”

The fatal accident forced Artemis to sit out the first round of competition for the world’s oldest sporting trophy.

Artemis’s absence has thus far left New Zealand and Italy to compete among themselves for the Louis Vuitton Cup and the right to challenge the United States for the grand prize.

Venue conditions

Billionaire Larry Ellison and his team, Oracle Team USA, won the America’s Cup in 2010 and the right to choose the windy, and some say hazardous, San Francisco Bay as a venue for the current competition.

The Louis Vuitton Cup winner will earn the right to challenge Oracle in races set to begin September 7.

Artemis does not expect to be able to race until the semi-finals, which begin August 6.

But a convoluted squabble over safety rules could still disqualify the Swedish team or virtually cripple its chances of being a serious contender.

Artemis CEO Paul Cayard has declined repeated requests for comment. Jennifer McHugh, his spokeswoman, said he is “focused on getting the boat in the water and sailing.”