Defenceless ships should be able to be warned, hailed and stopped for inspection or capture without a shot. Enter battle with friendly to talk to the

[Destraex]

I agree to some extent but think a ship should be more valuable with a crew. In fact remaining crew should be able to volunteer to replace your losses.
I also think that defenceless ships should be able to be warned, hailed and stopped for inspection or capture without a shot. Not every time. But some of the time especially when the enemy captain knows its just a matter of time. 

 

If you do manage to stop the vessel there should be a number of decisions to make once you come along side.

 

Some sort of dialogue and haggling with the captains over the capture of the vessel, whether they are to be parolled, that he can exchange information if you let him go etc.

If negotiations go south you may still have to fight him.

 

I guess you could even talk to friendly ships in this way. See a friendly ship in enemy waters and see what he knows. You would have to enter battle with a friendly to talk to the captain to enable the danger of ambushes while you do this... obviously do not fire on the friendly or you become a pirate.

[Captain Comery]

It's not fire on a friendly that makes a pirate it's attacking. Going into combat so that idea fell flat on its face

I do see a need for such a thing because a lone trader won't run and can't fight so it should just surrender. Perhaps traders could reveal trade routes previously unknown?

[Destraex]

"It's not fire on a friendly that makes a pirate it's attacking."

Yeah well that can change...

[WhiskeyBarrel]

Sinking a ship should net less loot than capturing it.  I can't recall ever getting any wood or other resource yet so I have to guess that this part of the game is still under construction.

[Magallanes]

Sinking a ship should net less loot than capturing it.  I can't recall ever getting any wood or other resource yet so I have to guess that this part of the game is still under construction.

 

Yeah, it's a good input. Sometimes ships in a patrol role could check others ships with extra points, resources or info in this operation. Fight, capture or sink must be a secondary action in case the captain does not accept...