yeah, it does look stuck in a bathtub. I think there's a 'scale' attribute in there somewhere, raising that should fix it (I think. the problem seems to me to be that, for their size, the waves are too 'smooth', and maybe move to quickly).
Additionally, at least in the picture, your particles for the smokestack look really big (like, those have to be the size of human heads.) I'd decrease the size of the particles, and either up the density, or change it to a multi-particle object (if you're using the default particles for smoke). Also, they move backwards too quickly - they should travel upward slightly before moving backwards.
Your battleship looks pretty good though, and I like the rust below the ports.