All monster speeds are how far they move with a move action, so it's hopefully reasonable to assume that's how it is for the ships too. Might help to calculate the speeds into miles (or kilometers if you're so inclined) per hour and see if they make more sense for a move action versus full round action.
Edit: According to my math it's full round actually. The listed speed for a cog is 2 mph on the table, and in its description it's 20 feet. 20x600=12,000 feet per hour, and divided by 5,280 comes to 2.2727_, which the game would turn into 2.