In the late 50's there were no Zone, Provincial, or Canadian Youth Championships, so juniors in the Toronto Area quite often raced against adults in open dinghy events. In 1959 the junior instructors at Port Credit Yacht Club, under the direction of Fleet Captain Ron Searle, invited a few of the junior programs from neighbouring clubs to come to the mouth of the Credit River for a regatta. The event was such a success that it has been held every year since. In 1968 a trophy was created from a wooden Nutshell rudder, hence the name Steerers', and presented to the best Junior Club in the regatta.
The regatta has grown from a local event to include junior sailors from all over Canada, and the south shore of Lakes Erie and Ontario. Although there is competition among the junior clubs, coaching is actively encouraged for the last 1/3 of the fleet. The regatta has also become a training event for Race Officers; having as many as 50 or more boats on a starting line is a challenge for wannabe RO's.