Boat in current fix over foreign waters (10)
I believe the answer is:
windjammer
'boat' is the definition.
(windjammer is a kind of sailing vessel)
'current fix over foreign waters' is the wordplay.
'current' becomes 'wind' (wind is a type of current).
'fix' becomes 'jam' (synonyms).
'over' says to put letters next to each other.
'foreign waters' becomes 'mer' ('sea' in French).
'wind'+'jam'+'mer'='WINDJAMMER'
'in' acts as a link.
(Other definitions for windjammer that I've seen before include "Anorak" , "Old ship" , "Vessel" , "Merchant sailing ship" , "sailing-ship" .)