It's hand carved and looks work-a-day in execution, as in could have been made by a ship's carpenter with a few chisels and a moulding plane, not a fine piece made on shore for the officer's quarters - or a work-a-day piece that was produced in a country community and never saw the sea. The design appears to mimic decorative iron strapping fastened with rivets. Doesn't evoke something particularly marine as far as I can see. There are those curious ears next to the 'spear points'... and a 'knob' in the center? Quick work, rough in finish. No sign of paint - suppose it could have had some kind of oil finish or varnish at one time. Wood might be ash.