Ok, so when you are sailing hold [L] so the camera zooms in on your ship and then when your jump with [R] try to jump to second you touch the water (not after you land, it has to be right when you touch the surface of the water) and keep doing it over and over and your ship will go really really far out of the cameras view. I did it so much once that i froze my GCN because it couldnt find my ship i went so far.