Its clear enough to me...
Turrini has sunk the SS CLYW. He has avoided every chance to repair her, has tried to make it impossible for others to do so, and has even refused to run her aground in timely fashion, to save the crew... and, now that the ship is sinking in deep water, and you're floating in a life jacket with the rest of the crew, being circled by sharks... NOW he's telling you what a great skipper he is, and how lucky you are to have him... given all his great accomplishments.
Next thing you know, he'll throw you an anchor... and expect you to thank him for his heroism in trying to "rescue" you...
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