Phaselus ille, quem videtis, hospites,
ait fuisse navium celerrimus,
neque ullus natantis impetum trabis
nequisse praeterire, sive palmulis
opus foret volare sive linteo.
The general meaning seems clear enough.
This phaselus, which you see, guests, says it was the swiftest of ships, and was not unable to surpass the speed of a floating rafter whether it was necessary to fly with oarblades or sail.