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Well, during the early 15th century it is arguable that the Spanish and Portuguese were the major naval powers controlling most of the seas between Europe and South America. However because of the non official government project pirating campaign of the English which sack many of their ships it is debatable who really controlled the waves.

While the Spanish also had the famous Armada this was defeated by the English. The English it is therefore arguable controlled the seas throughout the 15th century. However during the 16th century English power over the oceans began to wane and the Dutch become a large naval power. However they did not become particularly powerful until the 17th century.

This is and educated estimation of European naval power however Asian naval power is something else with possibly the Chinese having a large expansive fleet dealing in trade throughout the Indian ocean.

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