Cool submission. Gameplay loop feels very innovative, and the game matches with the theme very well.
Overall aesthetics are very coherent. Art style is nice, and the light/darkness effect when looking at the ship from afar is very cool. I appretiated the water SFX, they really added to the mood and feel of being underwater.
For improvements, the movement around the ship felt a bit clunky. Maybe alter the layout (perhaps add a ladder or something too?). I'd also recommend extending the light radius around the ship, at the moment it can be almost impossible to avoid some rocks.
Great submission. Well done!