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My order of buying ships: ( just my opinion)
Light Sloop - given to ya.
Skip the other "Light" class ships.
First ship to buy: Regular frigate when you can. 5K isn't that much, and you can now carry 9 cargo. This ship will help you get sailing to level 15 faster than the regular Galleon or Sloop. Keep the light sloop for speed runs to other islands.
Second ship to buy: War Galleon as soon as you hit level 15 sail and have the gold. This is the ship you will use to earn the gold you need for anything else you want to buy. Keep the Frigate for small crew action, and the light sloop for speed runs. (Some people stop here. This is enough to keep them happy.)
Third ship to buy: War Frigate, when you can afford it. Sell the regular frigate in order to make space for it.
Last ship to buy: War Sloop. Sell the light sloop to make room.
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