I like to see when people use heraldry in some way, no matter what the context is. Really, I do.
It's just that, far too often, what they use is sometimes, at best, only something that's almost like heraldry, but really isn't quite heraldry.
In this case, a newly-carved figurehead has been added to the replica caravel Matthew of Bristol, built in 1997 to mark the 500th anniversary of John Cabot's voyage of discovery to Newfoundlan. The addition of the new figurehead is to commemorate the anniversary of that first voyage.
However, despite being designed by, as the article notes, "an expert on heraldry," and said to be inspired by the arms of King Henry VII, the result is not quite heraldry.
You can find the May 1, 2015 story of this new figurehead on the website of The Bristol Post at http://www.bristolpost.co.uk/Matthew-unveils-new-figurehead-mark-anniversary/story-26430448-detail/story.html and from BBC News at http://www.bbc.com/news/uk-england-bristol-32553359