If the players would take a serious look onto the stock game they could see, that this critizised "hovering ships" above the horizon are already a stock game "feature". There you have an ugly grey stripe above the horizon. The shown screenshot of makmanīs mep mod is way better than what i used to see in sh3.
SH3 cannot show vanishing (i.e. "sinking") ships behind the horizon, itīs a kind of simulated with this stripe, which gets wider, the farer away an object is. So imho makmanīs mod does the best what one could do with this game.
makman:
concerning "ship spotted" effect: Tried several times an got opposite results
Will go on and report...
Greetings.