The Privateer gets a work over in the v1.4 patch in Pirates of the Burning Sea. Devs have taken the time to detail all the changes to this class:
One of the common complaints about Privateers is that they have skill options they want to take, but they are forced to invest in paths they dislike to get a specific skill. Sanctioned Piracy is the usual culprit. Now, Sanctioned Piracy is a free skill that Privateers receive at level 15. Weve also done some restructuring and adjustments to make more chains viable.
In the process, we removed the following skills from Privateers: Grease the Wheels, All or Nothing Shot 1, No Quarter, Stealth 1, Hide Crew, Maneuver 1 and Defense 1. Here are some of the new Privateer skills to replace the old ones:
Sturdy Rigging - Tier 3 Agility: Provides a passive boost to mast integrity. ~12.5% mast integrity
Agile Tactician - Tier 4 Agility: A group buff similar to Battle Doctrine. 1% resist, turn, damage, accel
Jugular - Tier 5 Agility: This is a major debuff that can only be used if your target is in a bigger ship class than you. It reduces DR, acceleration, reload rate and a small amount of accuracy. It gets more effective with each hit that lands. ~-20% +2% DR, -15% +1.5% accel, -10% + 1% reload. Max 15 hits.
Ride the Wind - Tier 3 Battle: A passive boost to target tracking and OS speed. ~5 tracking, ~5% OS speed
Concentrated Fire - Tier 4 Career: An attack that deals bonus damage and ignores a portion of the targets DR. ~35% damage, ignores ~40% DR
Hired Crew - Tier 5 Deception: Gives a passive boost to max crew. ~15%
Other skill changes have also been implemented so check out the article at the link above.