Looks great, I don't have any crits on the ship per sé, however there's one game issue thing I have to mention as a shooter lover.
As you're probably aware, in shooters you'll want to have the hitbox smaller than the ship itself. On a sprite like this you'll most likely end up having it the size and place of the cockpit, or in your case the blue orb, since that's really the sensitive part and it makes sense. Even if you don't, you'll want to constantly have it in the center.
For this reason the blue orb, unless you have the whole ship be a hitbox (which I really hope you don't), should stay in the center even when turning, or you'll have a very hard time getting a feel for which part of your ship is safe and which isn't. Move your frames left and/or right when the ship rotates to keep the blue orb in the centre, or rework that part of the animation.
For examples of how to handle this well, check out ChoRenSha 68K, where the red orb is the hitbox. Notice how the ship revolves around the red orb instead of its mass centre when it rotates, so it always stays at the same place. This can be seen in Radiant Silvergun as well, unfortunely you'll need to talk to the russian mafia if you ever want to get your hands on a copy of that game.
If you want to see why full-size hitbox is pretty much a bad idea, play R-Type or Guxt.
Well, i may re-work the center of the rotation animation so that it will be able to keep a better eye on where you're vulnerable, but because of the way the gameplay is going to be, you won't be killed unfairly, on the game's part, that is. I was actually inspired to make a shmup because of all the really really addictive, but really
really unfair shmups i've played recently.
The dexterity of your ship is actually going to be dependant on an energy meter, which refills constantly, but decreases if you fire, boost, use a special weapon, etc.
I've played ChoRenSha, one of my favourites, R-Type and Guxt are both good, but yeah, they have their issues. i am bad a guxt.

. I've been playing a lot of the games in the shootthecore.moonpod.com database. Lots of really good ones.
Basically, i want to make something unique. There are a lot of really generic shmups with great graphics, but mediocre gameplay, and there are also a lot of really addictive and innovative schmups with really poor graphics. For example, 'Clean Asia' by Cactus. A GREAT indie shoot 'em up, but the graphics are so basic, you have a hard time locating your ship all the time, plus with all the debris flying around, you mix them up with the bullets. (i always get killed unfairly.

)
I'm aiming to combine the two. Thanks for the input, once i get all the ideas for the gameplay down, i will probably make a topic over at shmup-dev forums.