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Pale Blue

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Naval Mercs would work similar to land Mercs. The companies have their own sailor pool and offer you their ships for hiring.

There could exist a variety of merc types.

The majority should be some that offer you ships for combat like galleys if their origin is on an inland sea and heavies otherwise or a mix of those.
Some might just be a bunch of transports to enable you to transport your armies, maybe some have increased embark speed.
Others could consist of transports loaded with marines ready for use.
Light ship fleets with increased privateer efficiency to siphon enemy income
A fleet with an explorer to charter unknown lands
Pirates that enable you to raid coasts
Blockade fleets that have increased blockade efficiency and increase your oods to capture coastal forts
 
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Lightwell

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Naval Mercs would work similar to land Mercs. The companies have their own sailor pool and offer you their ships for hiring.

There could exist a variety of merc types.

The majority should be some that offer you ships for combat like galleys if their origin is on an inland sea and heavies otherwise or a mix of those.
Some might just be a bunch of transports to enable you to transport your armies, maybe some have increased embark speed.
Others could consist of transports loaded with marines ready for use.
Light ship fleets with increased privateer efficiency to siphon enemy income
A fleet with an explorer to charter unknown lands
Pirates that enable you to raid coasts
Blockade fleets that have increased blockade efficiency and increase your oods to capture coastal forts

I'd just take mercs who want to blockade and don't require pay for it. Call them up and tell them, "We've locked down the enemy's navy. Go nuts on their ports". While we're at it, I'd like to be able to get more from naval blockades. I got more back in 1.29, when we could use blockades to screw with enemy trade.