Just finished watching it. On the one hand, I agree with Jiffy:
I hated the characters and wanted them all to die horrible fiery deaths. The decisions made are truly stupid.
The main protagonist in particular I absolutely hated. Plus the overall pacing of the movie was not good. The spent almost 30 minutes wasted building up the main protagonist's character for about 20-30 minutes with no action making him more and more dislikeable.
On the other hand, I really liked the naval action a lot. It was fun to see the ships in action. Once things got rolling, I'd have to agree with CeeKay and USMC Kato. It was a fun cheesy B-movie.