This can be obtained with either the Patriot (excellent armor & deck guns) or Stingray (speed with 2 torpedo tubes).
1st thing to do is to rush forward and wreck the initial group of oil tankers, making sure not to get hit by the e-boats. As long as you destroy the oil tankers, that will force your Corvettes to take out all the e-boats and frigates until they are destroyed. Once this group is taken care of, position yourself to eliminate the battleship on the left side of the harbor once it leaves the docks. Once you eliminate that, quickly proceed to the battleship that will come out on the right. You want to eliminate that battleship without it destroying your destroyer that moves up on the right side. Once you destroy the 2nd battleship, position your sub so that you are sitting where it came out of the side harbor and face west. In this position you are protected by the docks to your right and you just sit there firing upon everything in your vicinity. Do not worry if anything gets past you, the 2 destroyers sitting at the mouth of the harbor will destroy them. When the bombers & fighters appear, submerge and wait for them to pass. The bombers will not (should not) target you where you are sitting.