The Collaborative International Dictionary of English v.0.48:

Lapstreak \Lap"streak`\, Lapstrake \Lap"strake`\, lap-streaked
\lap-streaked\, lap-straked \lap-straked\a.
   Made with boards whose edges lap one over another;
   clinker-built; -- said of boats. Contrasted with
   carvel-built.

   Syn: lap-jointed, overlapping.
        [1913 Webster]

WordNet (r) 3.0 (2006):

lap-streak
    adj 1: having overlapping hull planks [syn: clinker-built,
           clincher-built, lap-strake, lap-straked, lap-
           streak, lap-streaked] [ant: carvel-built]