embarcación
vessel
embark
to board a ship
+
-ción
noun suffix
Embarcación means vessel and can be thought of as embark0 (to board a ship0) + -ción1 (noun suffix1), literally meaning 'the thing you embark on'.
noun
  1. vessel
    A vessel or boat used for transportation on water
    La embarcación zarpó del puerto al amanecer. // The vessel sailed from the port at dawn.