This is a beautiful scrimshaw that appears to be on fossilized ivory by A. Luiz. The signature matches similar signatures of Alan Luiz (see http://www.tuxcat.com/sec/scrimshaw-others.html). His full name is signed on “African Royalty” (https://s-media-cache-ak0.pinimg.com/originals/34/a3/e6/34a3e6de9146d02a4d72bf48d411bfef.jpg), and on a number of miniature nantucket baskets.
As to the questions from Keifer:
“…, I was hoping you might be able to help me identify who made it, and share a little of your knowledge on what exactly it is. In particular, I’m hoping to find out what the holes are for, what material it’s carved on, what ship is depicted, and info about the artist. Anything else you know is great too! …”
Below are pictures of the piece in question, any information would be greatly appreciated!