Alright so p101 is getting an update which includes ship pvp, new quests, possibly crafting, team up kiosk, and other things. so i'm going to give you the general run down of what you need to prepare for this update...
1 ship items
with ship pvp this could be a new chance to get scrip, generally your going to find the items you need from 2 places
1 the ship item vendor in florenza docks and martin chambers "the pretender" found sailing between florenza, barbaninzo villa, the palace and the stormgate to Aquila. the ship items vendor is right next to the ship vendor, while you can pick up most of what you need from him, martin drops some special horns better than the kraken which you will need.
simple enough, kane can get you the gear you need unless you prefer some stuff from moo like his outfit or bloods jacket, but I recommend kane for your gear essentials.
3 pet, this is personal, personally for me I try to get as many talent grants as possible that best suit me being a buccaneer. like I said this will be different for everyone because some people like it to have charm while I don't so this is more for you to decide what best suites your play style.
4 a good team
as we learned in vp2 test things are getting harder, so I would get all your companions to max (yes even the ones you never use just in case) also you might want to get some extra companions so you can have some spares.
5 extra essentials
this is stuff that is not necessary but for just in case, the list is; gold, extra companion points, stuff that sells at a high price, doubloons, active friends, some elixirs (not yet though save some crowns and see if you have to buy them first). things like that
until I know more about the update I wont add to this guide, and due to the wide Varity of things such as gear alone I can't add pictures. hope this at least helped a bit, what the update means comes next then who knows?