Defence and attack stats are only part of it. A higher valour (referred to as command on the info pic) barque will usually be more effective than a 0 or 1 valour caravel. Speed is a stat that is used for ships that are fleeing. If you attack a ship one year and in that same year it moves to another sea zone, it's speed vs your ship's speed helps to determines if it escapes or has to fight (there is still a good chance it will escape though even if your ship is the same speed or faster). When you attack a ship, it's that ships defence stat vs your ships attack stat. This is how it works. Attack is usually higher than defence which is why in most cases the attacker has the advantage. When your new caravels at 0 valour are attacked by a stack of 3 barques with a 4 valour lead ship, that stack will probably win.
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