Ok 
You need to build your ship with a (large) spherical chamber in the middle (with its centre above the waterline) capable of supporting the rest of the ship. We'll call it the propulsion chamber
For simplicity of visualization, imagine the largest ball you could fit in the middle of the ship, and imagine superman pushing the ball upwards from the inside: he must be able to lift it (and the ship with it) without the ship coming apart.
A magus casts Impetus Haematitis, tracing a ring on the perimeter of the propulsion chamber. Ideally, the ring has been carved or something, you really do not want it disturbed. This is all the magic you need. No enchantments, no rituals, just a simple spell than any apprentice can spont - cast just once.
Now you need a lot of barrels/pots/basins etc. with an iron (plated) bottom; each filled with sand. Like, a lot of sand. Within the propulsion chamber, the sand will push towards the iron, which has two effects. First, no matter how you turn the container, the sand will not fall off, because it pushes towards the iron bottom. Second, and perhaps more importantly, if you turn the container upside down, it will tend to fly upwards; if you turn it laterally, it will push laterally.
Just position enough containers on the ceiling - like you would normally do with ballast at the bottom - and the ship floats. Add a few more, and the ship rises. Remove a few, it descends gently. Move a few towards the front of the chamber, and the ship moves forward. Just make sure that the containers are solidly anchored to where you place them, or in rough winds you risk a catastrophic breakdown of the whole system. But then again, any sailor with ballast experience would be familiar with concept. It's just upside down.
I think the beauty of the system is that it provides adjustable lift and propulsion with just a single, low level, non ritual spell that you only need to cast once. Incidentally, the same mechanism allows you to make perpetual motion devices that provide mechanical power to the covenant where needed. One casting of the spell per device.