My fleet can be divided into three easy sections:
1) The Bloody Blade
2) Fog Goons
3) Return Portal (Pestilence)
The Bloody Blade is an unusual capital ship in that it only has three masts. Its scorpion ability makes it extremely useful though. I threw on Davy Jones for his all around usefulness in a melee, anything my opponent can do I can copy. I didn't bother putting a captain on because I figure I will not need one. Rather, I plan to begin the game by dropping Mermaids on my first turn. Ideally this will remove my opponent's capital ship, however I figure most fleets will incorporate Favor of the Gods. The real purpose for Mermaids is to prevent my Cursed Zone from being removed later. Davy Jones will be used to copy the ability that most suits my needs at any given moment, likely the ability of the Pestilence. Ignoring the first shot also greatly helps my survival, you need two sixes to make a dent. Once I catch an opponent with the scythe-blade I plan to drop Cursed Zone in the area. That, combined with the ability from the Pestilence makes Bloody Blade unable to be shot. My shooting would also be very poor, so I will simply hack the other ship to shreds with my blade.
My fog goons are mostly to swarm enemy ships. Sea Hag will be towing Death's Anchor so that I can use the schooner turn to position the flotilla. If necessary I can put the Bloody Blade through fog as well. I figure that if the enemy steers clear of fog banks, it will work to my advantage for chasing him down. Mist Walker also can hold enemies while the Bloody Blade catches up.
Pestilence sits safely at my home island and can put up a fog bank to allow my fog goons to teleport back for quick repairs.
This fleet was tossed together in a short time, so I know that it will have many weaknesses. I added Duel to combat some of them. Often by removing a critical crew member (perhaps a sac-captain, canceler, or Lord Mycron) I can likely cripple another teams offense. There isn't a canceler in the game that can beat Jones in a Duel (Fiore can tie 1/36 times), so unless there is redundancy I ought to be okay. As far as subs go, they must fight the Bloody Blade on the surface. Otherwise I will just keep repairing rammed off masts.