Did the best I could with the translation. Basically the gist is that the Admiral is wondering why the Fubuki class has such short skirts, and Fubuki's being a thirsty randy beast and intentionally keeping her skirt short/flashing her panties.
Hey, hey Fubuki.I've been wondering for a while: why are you girls' skirts so short?When you crouch like that, there's a place that can be seen...Shipgirls are usually exposed to the sea breeze, so if the skirt's long it sticks to their legs and hinders their movement....Well, actually, short skirts make them look prettier, so all the girls do it....Really?Hmm?...Only a man would be curious about what's in our skirts....Lewd.