OK, I couldn't resist and did some new tests to animate the rising ship. I skipped the part, when it comes through the surface (after some frustrating attempts) and I'm going to animate from there.
Here is my first test only for the water masses falling from the ship. Of course this "water curtain" has to become less over time. I'll take care of that. And the mist evolving from the water surface should start earlier. This is no problem, I guess.