- Probably built by Mahmud I early in the last half of the 1400's
- The palace is a double storeyed structure, 360' long and 50' wide, extending along the edge of Kaphur Lake and Munja Lake.
- The shape, dimensions and position gives the illusion of a ship, hence the name.
- The building has a continuously arcaded front shaded by a broad eave above which is a triforium of recessed arches with a wide parapet showing a repetitive tile pattern.
- The roof has a series of open pavilions, kiosks and overhanging balconies.
- The interior consists of pillared compartments, cool corridors and sumptuous bathing halls.
- The character of the building is lively and entertaining, showing a progression from the phase of solidity and quiet solemnity to the lightly elegant and fanciful mode, with friezes of brightly coloured glazing on its surfaces.