Really nice entry!
I love the art style and the two phases, of the game.
The "negative" points have already been pointed out by others: compass seems broken, too much money at the beginning.
I have a small thing to add, I feel that shooting with J and K, but having to use the mouse to click (for the spyglass for example) is a bit strange. It could be worth using just the mouse, or use Q and E to shoot (so you use just one hand to move the ship).