This is currently the fastest, biggest and slowest turning boat in the game. This boat is perfect for raids, but puts a huge target on your back because people who aren't raiders usually make a smaller boats so as to not be seen. If you're willing to put the time in to make this behemoth, make sure you've got either a crew to defend it or a bucket to put out fires and a good sword to kill enemies.
This ship is the best possible ship for a trade, but it is recommended to have a team to guard it. However, this can prove very hard since frigates are very flammable.
Many try to steal the Frigate, so many prefer the Schooner.