Ramming is certainly not in vogue at the time the game is being played and more importantly ships are not designed for it.
Plus if you wreck your keel your are royally screwed and you have a good chance of that when ramming.
Canon damage on the other hand can be relatively easily patched up and you can send the ship back out to sea in good working order quite quickly. A damaged keel on the other hand means taking the ship out of water...and that is the real difference when it comes to repairs.
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