@lmiq, thanks for this very useful post.
In case it might be of interest, the following example provides some additional formatting options:
using LaTeXStrings, Printf, Plots; gr()
plot_font = "Computer Modern";
default(fontfamily=plot_font,framestyle=:box, label=nothing, grid=false, tickfontsize=7)
u = 15 # persistent wind speed in m/s (~30 knot)
st0 = "Significant wave height vs persistent wind speed ("
st1 = @sprintf(": u = %i m/s → ", u)
st2 = @sprintf(" = %.1f m", 0.24*u^2/9.8)
plot(title=L"\textbf{%$st0} \mathbf{H_s \approx 0.24 u^2/g} ) \textit{%$st1} {H_s} \textit{%$st2}", titlefont=font(8,plot_font))
plot!(ylims=(0,30))
To produce: