Construction beginning/end
The Floating Refuge was built in the Sea of Swords by the then pirate captain Isra Al'Sabin. The Refuge would quickly grow in poppularity as a gathering spot for Pirates and other criminal elements.
It also significantly increased the profits of pirates, and made it much more difficult for the Empire to bring them to justice. As such, piracy would see an increase for some time, until the Vandwig Disaster.