Probably a bad idea. If I was leading a boarding party, and all the defender's retreated below decks, I'd consider it a victory. Take down the sails, pin the rudder, then park my ship outside of their cannons' firing arc. Then just wait. Maybe have my crew bring over buckets of shit, vomit, or whatever other vile substances we could find, and dump them down the grates. If I got real desperate, I could just board up the doors and set the ship on fire. Sure, I'll miss out on most of the treasure, but those dwarves will probably burn to death before the boat totally sinks.