Organisers of Waterfest Weymouth said they wanted to hold a heritage boat race between the Dorset resort and Falmouth in Cornwall, which could not be achieved by September.
Therefore, they are “postponing” the free event until next year.
It has previously attracted about 5,000 people each year.
Waterfest, which is usually held in and around the harbour within the first two weeks of September, was organised by Roger Dalton Associates, event sponsors and Weymouth Business Improvement District (BID).
Previous highlights have included flyboarding displays, the tall ship Le Marite and the Gipsy Moth IV, which Sir Francis Chichester used to circumnavigated the globe in 1967.
Nigel Reed, manager of Weymouth BID, said in reviewing the event the idea of a heritage boat race “stood far above the rest”.
Describing it as a “mini tall ships event”, he said it would be a “first for Weymouth”.
“To deliver this in 2017 is not feasible in securing all the elements, but the commitment from the heritage boat fraternity is strong for 2018,” he added.
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