Nautilus could maybe go up one point to 17, the auto success on any ram attempt is pretty strong, effectively enabling her to ram a mast off of a healthy ten mast.
Polaris seems okay, but I think the wording of the Torpedo keyword could be refined.
Hephaestus is likely okay at 15, but could go up to match the point cost of the original Nautilus.
Odyssey is likely fine at 12, an interesting gold runner for certain. Her ability will allow her to get within S while still submerged and surface on the next turn keeping her “safe” from opposing ships while she gathers treasure.
This version of the Mobilis is probably too cheap. For a submarine she has excellent speed and good cargo. I’d suggest moving her point cost to 10 or 11.
Mako will likely be a pain to deal with in a game, but she seems okay. You could change her ability to read as one cargo instead of one crew or treasure, as that would catch both as well as anything else the target ship might be carrying.
I’m not sure how I feel about the Erebus. The original version of the Mobilis from MI does the exact same thing for the exact same cost and is a massive headache to deal with in any game, given the double layer of defense. From campaign experience ships like this could easily go to 15 or 16 points, however for more casual games in the 40 or 60 point range I think the Erebus is okay, as she does have less cargo than the original Mobilis, despite her slight speed increase.
Why does the Oceania have that first line of ability text? Per the Air Dragoon keyword, they can be assigned to the ship at the beginning of the game without needing any special parameter, unless I’m missing something somewhere? Moving on from that, I feel that Oceania could move up a point or two, given that the Dragoons are very similar to Native Canoes.
This version of the Matuku is a very good gold runner. That gold bonus ability can win games with only a couple uses, couple that with decent speed and good cargo all for 10 points makes for a very good gold runner. 10 points might be too cheap, but I think testing would lend better results.
Even though it has a negative ability, I don’t feel that the Pacifica is worth 4 points, and could come up one or two.
Even though she’s a small ship, the Perseus should be more expensive. With a captain and helmsman she’s looking at a max speed of S+S+S+S with some very accurate cannons. Moving her point cost to 9 or 10 would be ideal I think.
Fiji has a good ability, but I’m not sure how I feel about the ship. She’s small enough to the point that her ability might not be all that useful (like the Coral from RV), but on the other hand she has good cargo space and a low point cost. Playtesting I think is needed for this one.
Galateia seems okay as-is.