What It Scores
SHIPS is a valid word in the tournament list this site uses. Tile values only, before any premium square: 10 in Scrabble and 11 in Words With Friends. The letters break down as S1 H4 I1 P3 S1.
Words Made From The Letters In SHIPS
20 shorter words come out of these tiles. On a board that matters more than the long play, because a short word on a premium square often beats a long one on plain squares.
4 letter words (7)
3 letter words (8)
2 letter words (5)
Longer Words Containing SHIPS
SHIPS appears inside each of these, which is what makes it worth knowing as a hook.
Next: the Word Unscrambler for any letters at all. Full entry and definition at Merriam-Webster.