sunk ship
 

is there any way to recover a sunk ship?

Take yourself to one of the drydock NPCs (they all stand in front of those half ships on the harbors) and when you hit control you get a choice to repair. Choose that and your ship will be back in your panel ready to launch again.
Occasionally the repair does not work the first time, or at least it did not before this update, so you may have to go to a different island. There are places to repair that I know of on Port Royal, Tortuga and Padres del Fuego.

But, you need a certain amount of credits. Depending on yer type of ship, and how much damage is caused. And yes, sometimes it doesn't let you repair yer ship even with enough gold to pay for it. It's a bug they haven't fixed yet, but its not a huge bug either lol.

~Cpt.Sea