Portugal had its shinny moment up to 1560 ( time when Portugal and Spain united) with the discovery of the trade route to India. Up to that year Portugal Navy was one of the best in the world.
Until 1640 ( when Portugal declares independance from Spain) some of the fleet that Portugal had was either obsolet, sunk, sold or captured by Britain or other nation, Even tho Portugal had its Navy at the same level as the other nations.
After 1640 Portugal was mostly a bystander player mostly defending its colonies (repulsing the Dutch assaults on Mozambique, Goa and Macau) helping other nations like England on the battle of Twelfth Siege of Gibraltar (1704) and such.
So answering your question... yes