a motorboat designed for high speeds.

1910–15; speed boat + -ing1

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World English Dictionary
speedboat (ˈspiːdˌbəʊt)
a high-speed motorboat having either an inboard or outboard motor

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
They will reach the resort by speedboat or seaplane and need never leave it
  except for diving or sunset dolphin-viewing.
The river has little ripply waves, maybe from a speedboat out beyond the white
They were people who were born without chins or who had taken a speedboat
  turbine to the face.
They all boarded a speedboat and motored through the creeks.
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