Ship Upgrades

Metec

Apprentice
I have noticed that one can only assign a certain number and type of upgrades that one can put on a single ship. For instance, one can EITHER use chainshot or improved ammunition, not both. Any advice on the best combination of upgrades?
 

The End

Master
You can use both. Level a boat to 10 by killing monsters and sinking other ships and you can add up to 4 upgrades
 
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