Privateers
Faction Overview
Firstly, this "faction" is Mercenary. During Warmachine Mk IV gameplay, whenever you see the word "Faction" in a rule, assume it means "Mercenary."
Privateers
The Privateers in the Iron Kingdoms are pirates. Some are sanctionned, others not so much. Many fall under a charter, and privateer ships working under the same charter band together to increase their chances of capturing ships or raiding coastal towns.