The Captain Hat is a craftable Nautical Tab item in Shipwrecked DLC. When worn, it causes Boats to lose durability at half rate while sailing. It has no effect on the durability loss when the boat hits Waves or is attacked. It also has no effect when player character is not driving a boat. In addition to being crafted, it can also be found in Steamer Trunks, Whales and X Marks the Spot treasure chests.
Due to being a relative cheap item to craft, it may be practical to use it instead of entirely relying on Boat Repair Kits or crafting new Boats, especially in long expeditions where the player is away from or lacks the time to gather necessary supplies.