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Pretty sure Naval Units count as constructs... here is what I have for them:

Masters of War: +1 Exp / Turn. 60 Gold. Requires: War University
Usable by: All

Adamantium Armor: +45 Melee resistance, +45 death resistance, +20 Spirit resistance. 250 Gold. Requires Adamantium Smelter.
Usable by: All

University Education: +10% Unit Power. 100 Gold. Requires University.
Usable by: Caster, Healer, Construct

Dwarven Steel: +20% Unit Power. 100 Gold. Requires Dwarven Armory.
Usable by: Fighter, Creature, Construct
 
I don't think I've been able to give any of those to ships.

The reconstruct spell doesn't seem to work on them either (nor on undead as it says it does - I've yet to be able to heal undead in any way). Or I'm clueless - very possible!
 
the unit type of ships is "ship" not "construct".
but i can confirm that reconstruct works on ships.

i can also confirm that adamantium armor and university education do NOT work on ships. i can upgrade my units with it, but not my ship.
 
Who needs ships, when you can get waterwalking or flying units?

This. Ships are incredibly overpriced compared to land units of equal strength.

the unit type of ships is "ship" not "construct".
but i can confirm that reconstruct works on ships.

i can also confirm that adamantium armor and university education do NOT work on ships. i can upgrade my units with it, but not my ship.

It's worth noting that the flying undead ships are classed as constructs, while oceangoing ships are classed as ships. The flying undead ships can be upgraded with adamantium armor, university education, dwarven steel and master of war, as well as masterwork armor.
 
I have tried the flying galleons a couple times. They kinda suck without upgrades or a few levels but once you get them going they are pretty nice.

The problem is the sea serpents are WAY too strong for starting naval units.