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Blue Gunpowder adds 25 damage on top of your damage output but doesn't increase firing speed. It is a strong alternative if the Demolisher is not affordable or does not work for your ship build. It is helpful for small ships and is an extra boost for large ships.

Tools | Fishing RodSpyglass
Weapons | Cannon
Basic Upgrades | Attack Speed UpgradeDistance UpgradeDamage UpgradeShip Speed Upgrade
Ship Upgrades | Air PeglegNitro PegReinforced PlanksSteel Reinforced PlanksAdvanced Toolkit
Cannon Upgrades | Steel BarrelTitanium BarrelSinker's GlovesBlue Gunpowder
Hybrid Upgrades | BruiserDrifterDemolisher
Other | Fountain of Youth