Nearest point at sea for the launch (12)
I believe the answer is:
presentation
'the launch' is the definition.
(thesaurus)
'nearest point at sea' is the wordplay.
'at sea' indicates an anagram.
'nearest'+'point'='nearestpoint'
'nearestpoint' anagrammed gives 'PRESENTATION'.
'for' is the link.
(Other definitions for presentation that I've seen before include "when gifts are handed out?" , "Illustrated formal talk" , "Formal introduction" , "Formal act of giving" , "Display" .)