the ship need not be fully plated with aluminum panels,
but probably the bottom half where it is in contact with the water.
the rest can be used a coating of some kind, to prevent the
water from seeping into the cracks. Which won't be great with the glue.
But from my brief experience with wood, when glued, they pretty much
become fused as one. And in some cases, glue isn't even necessary
when used a wooden hammer to enter into interlocking shapes.
The design on the ship isn't limited to the traditional as well.
It can have 'wings' to support balance, like that of the catamaran.
Whichever way, the density wouldn't be that high overall.
It should float above the water just fine. But reducing weight
as much possible for every material would be a wise practice...