The bands around the waists are inflatable life preservers.
This was the first naval war film made by MGM (per Wikipedia).
Thanks to the Hayes Commission rules, the Warren picks up two near term pregnant women and no one knows. Showing a pregnant woman was not allowed.
Rear Adm. Stephen Thomas, played by Charles Laughton, is wearing ribbons for the Medal of Honor and the Navy Cross, the top two Naval awards for combat actions above and beyond the call of duty.
This film was a hit at the box office, despite its poor reviews, earning MGM a profit of $786,000 ($13.4M in 2021) according to studio records.