I did a bit of messing around with settings and managed to work it out so I can actually enter battle without a problem. In fact, I was able to increase my graphics settings to medium and tweak a couple things down like shadows and still pull a better frame rate. I am running this on a laptop with an AMD 8790M, if you have an Radeon you can try and see if it helps also.
Open AMD Catalyst Control Center Click Gaming then 3D Application Settings If you see an application that is something like Steam:29000 delete it. Now click Add and locate Client.exe (mine was in C:\Program Files (x86)\Steam\steamapps\common\Naval Action) and click open. Now click Client.exe in the application list. And change your settings to be the following:
Anti-Aliasing Mode: Use application settings
Anti-Aliasing Samples: Use application settings
Filter: Edge-detect
Anti-Aliasing Method: Adaptive multisampling
Morphological Filtering: On (Direct3D application only)
Anisotopic Filtering Mode: Use application settings
Anisotopic Filtering Level: Use application settings
Texture Filtering Quality: Standard
Surface Format Optimization: On
Wait for Vertical Refresh: Off, unless application specifies
OpenGL Triple Buffering: On
Tessellation Mode: AMD optimized
Maximum Tesselation Level: AMD optimized
That's it, click save. Worked for me and hope it may help someone else who has this problem.