Seaport on Isle of Wight (5)

I believe the answer is:

cowes

(Other definitions for cowes that I've seen before include "Isle of Wight yachting centre" , "Where yachtsmen may be" , "where regatta happens" , "IOW regatta town" , "Venue for Isle of Wight regatta" .)

I've seen this clue in the Sydney Morning Herald.

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