A solid book in terms of worldbuilding. I'd treat much of it as suggestions for your Exalted campaign setting, especially one set around the West or the coasts of Creation. Not Essential for running Exalted but I enjoyed it at the time. The art is fantastic as usual for Exalted.

I was hoping for a description of how to run a sea-based campaign in the world of Exalted, but was disappointed. Mainly what this is, is a description of ordinary sailing life as seen through the lens of Exalted. Eg. there's a bit about sea navigation when you have compasses that point toward the center of the world, and how sailors' superstitions are combined with actual negotiation with water spirits. And there are sections about the various naval forces of the world and a few NPCs, and stats for a few kinds of ships. But the close-to-reality sailing material seemed like filler that I could've looked up elsewhere, and there was nothing that stood out as being the basis for an adventure or a campaign.