Green’s Dictionary of Slang

1. (US) a scholarship.

1957

H. Simmons Corner Boy 76: I got a ship to Central State [...] I’m going to be the toughest little quarterback ever hit the place.

2. (teen) a relationship.

2019		www.verywellfamily.com/a-teen-slang-dictionary 10 Mar. 🌐 Ship - Short for ‘relationship’.
2024		Axis Parents’ Guide to Teen Sl. 🌐 Ship = Short for ‘relationship.’ [...] ‘I see a ship developing!’.