Quote Originally Posted by dumas
Personally, I find that building up a navy in the beginning is a big drain and unnecessary. The AI normally lifts the seige to your port in one turn. You only need one cheap ship to transport troops as long as that ship always stays in harbor. When you actually need a navy or can afford it, you can build it up in a turn or two from several cities. There're a few exceptions like if you absolutely need to block land bridges in Iberian Penn or Constantinople, but even that is rather unnecessary in the early game.
I've been toying with the idea that you don't need to maintain a navy in the later game either.

Since I invest heavily in the latest docks for trade purposes, I can almost always muster a fleet larger than anything else out there in a single turn. Three nearby cities, three ships each and you've got 9 modern ships in a turn. Since most unit have maintenance about 1/3 to 1/4 of their cost, disbanding ships you aren't going to use for a while is a pretty quick payout.

On the downside, you don't get XP or admiral stars this way, but shear numbers can make up for that easily enough. You're also a turn or so slower to react.

Of course, you have to money enough to order a bunch of ships when you want to as well.

I suspect I will contunue to have 3 or 4 fleets in the late game anyway a) for the sake of convenience and b) because at the point this becomes relevant I'm not that short of cash anymore.