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Panda 38
Designer: Gary Grant  ·  Builder: Ta Shing  ·  First built: 1982
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About the Panda 38

Designed for serious bluewater cruising, the Panda 38 is a capable offshore sailboat built to handle demanding passages with confidence. Produced by the German yard Panda Yachts, this model earned a reputation among long-distance sailors for its solid construction and sea-kindly behavior, making it a practical choice for those planning extended voyages rather than weekend coastal hops. The Panda 38 reflects the European cruising tradition of prioritizing seaworthiness and durability over flashy performance, resulting in a boat that inspires confidence when conditions deteriorate offshore. Her layout and design speak to the needs of shorthanded sailors or couples looking to take on ocean passages, with a focus on manageable handling and robust build quality throughout. While detailed specifications can be limited in available records, the Panda 38's standing in the cruising community has been built largely through word of mouth from owners who have put the boat to work in real-world conditions. For buyers seeking a dependable bluewater cruiser with genuine offshore credentials, the Panda 38 remains a worthy candidate worth researching further.

Core Dimensions
LOA (Length Overall) 37.58 ft / 11.45 m
LWL (Waterline Length) 31.50 ft / 9.60 m
Beam 12.00 ft / 3.66 m
Max Draft 5.75 ft / 1.75 m
Displacement 19,000.00 lb / 8,618 kg
Ballast 6,600.00 lb / 2,994 kg
Sail Area (Reported) 718.00 ft² / 66.70 m²
Design & Construction
Hull Type Long Keel
Rigging Type Cutter
Construction FG
Designer Gary Grant
Builder Ta Shing
First Built 1982
Related Sailboats ["Nantucket Island 38" · "Odyssey 38 Cole" · "Ericson 381" · "Ct 38 Warwick" · "Ericson 38"]
Owner Reviews

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Known Issues & What to Watch For

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Performance Ratios
PHRF Rating PHRF (Performance Handicap Racing Fleet) is a national racing handicap measured in seconds per nautical mile. Lower values indicate faster boats. Ratings are sourced from US Sailing's national database (median across 60+ regional fleets).
Under 0 — Ultralight racer0–90 — Performance racer90–150 — Cruiser/racer150–210 — Typical cruiserOver 210 — Heavy/slow cruiser
 162
SA/Displacement Sail Area to Displacement ratio measures how much sail power a boat has relative to its weight. Higher values mean more performance and speed.
Under 14 — Heavy cruiser, slow14–18 — Cruising sailboat18–22 — Cruiser/racerOver 22 — Performance racer
 16.2
Comfort Ratio Ted Brewer's Comfort Ratio predicts how comfortable a boat will feel in offshore conditions. Higher values mean a steadier, more comfortable motion in a seaway.
Under 20 — Uncomfortably rough20–30 — Acceptable coastal30–40 — Good offshore comfortOver 40 — Very comfortable offshore
 32.19
Capsize Screening Formula The USHS Capsize Screening Formula estimates offshore capsize risk. Lower is safer — values under 2.0 are considered acceptable for offshore sailing.
Under 2.0 — Safe for offshore2.0–2.2 — Borderline offshoreOver 2.2 — Coastal use recommended
 1.8
Hull Speed Hull Speed is the theoretical maximum speed of a displacement hull, calculated from waterline length. Most cruising sailboats reach this speed in moderate conditions. 7.52
S# (Speed Number) The Speed Number (S#) is a quick performance index. Higher values indicate a faster, more powerful design relative to its size.
Under 3.0 — Slow cruiser3.0–5.0 — Average cruiser5.0–7.0 — Performance cruiserOver 7.0 — Racer
 1.91
Pounds/Inch Immersion Pounds per Inch Immersion (PPI) tells you how much weight is needed to sink the boat one inch. Useful for calculating how additional gear and stores affect waterline. 1.0
Rig Dimensions
I (Foretriangle Height) 45.2
J (Foretriangle Base) 18.5
P (Mainsail Luff) 39.5
E (Mainsail Foot) 15.2
SA Fore 418.1
SA Main 300.2
How It Compares

vs. Ct 38 Warwick, Ericson 381, Odyssey 38 Cole

This boat Similar boats
Dimensions
LOA
Panda 38 ★
37.6 ft
Ct 38 Warwick
37.7 ft
Ericson 381
37.5 ft
Odyssey 38 Cole
37.6 ft
LWL
Panda 38 ★
31.5 ft
Ct 38 Warwick
30.8 ft
Ericson 381
30.5 ft
Odyssey 38 Cole
31.8 ft
Beam
Panda 38 ★
12.0 ft
Ct 38 Warwick
11.5 ft
Ericson 381
12.0 ft
Odyssey 38 Cole
12.1 ft
Displacement
Panda 38 ★
19 lbs
Ct 38 Warwick
16 lbs
Ericson 381
14 lbs
Odyssey 38 Cole
20 lbs
Ballast
Panda 38 ★
6 lbs
Ct 38 Warwick
7 lbs
Ericson 381
6 lbs
Odyssey 38 Cole
8 lbs
Sail Area
Panda 38 ★
718 sq ft
Ct 38 Warwick
—
Ericson 381
678 sq ft
Odyssey 38 Cole
681 sq ft
Performance
PHRF Rating (lower = faster)
Panda 38 ★
162 s/nm
Ct 38 Warwick
—
Ericson 381
114 s/nm
Odyssey 38 Cole
—
SA / Displacement (higher = more powerful)
Panda 38 ★
16.2
Ct 38 Warwick
—
Ericson 381
18.4
Odyssey 38 Cole
14.8
Ballast / Disp (higher = stiffer)
Panda 38 ★
—
Ct 38 Warwick
44.9 %
Ericson 381
43.8 %
Odyssey 38 Cole
—
Comfort Ratio (higher = more comfortable offshore)
Panda 38 ★
32.2
Ct 38 Warwick
—
Ericson 381
24.9
Odyssey 38 Cole
33.3
Capsize Screening (lower = safer)
Panda 38 ★
1.80
Ct 38 Warwick
—
Ericson 381
1.98
Odyssey 38 Cole
1.79
Displacement / Length (lower = lighter)
Panda 38 ★
—
Ct 38 Warwick
255
Ericson 381
226
Odyssey 38 Cole
—
Hull Speed
Panda 38 ★
7.5 kts
Ct 38 Warwick
—
Ericson 381
7.4 kts
Odyssey 38 Cole
7.6 kts
Speed Number (higher = faster)
Panda 38 ★
1.9
Ct 38 Warwick
—
Ericson 381
2.6
Odyssey 38 Cole
1.7
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