Yes, it is quite possible to build it if you replace the guns with 24-pounders. But you need to cut some of the wooden blocks into half-blocks, bevels, etc. If you make additional slots on the sides, there is enough buoyancy to install at least 4 more 24-pounders without major changes (just remember to add additional shooters). In my opinion at the moment 31 is a pretty good speed even for a small ship :)

Obi, is this buildable in the current version of the game using the "easy" start that gives you tons of blocks? I see it has 2 60lb guns, those can be swapped for 24-pounders and more added. I finally got the hang of building a rudimentary vessel capable of combat and decent speed (31, I think?), but I was rather sluggish in combat with my first ship as I'd not done much combat before that point, and I forgot to save it lol.