The Vessels: Core Library has been updated to version 1.7.0. This includes a number of model optimizations and LOD improvements to enhance draw distance and performance. Note that this will not resolve the traffic performance issues that have appeared post Sim Update 9. We continue to investigate this with Microsoft and Asobo.
Currently the release is available via Orbx only (for free as always) but it is in the test and release queue for the Microsoft Marketplace.