User blog comment:David Ironeagle/Has the New Update Begun?!/@comment-1140008-20130304020601/@comment-5226912-20130310172548

Well if the headstone story quest ever does get released we might possibly see the Kraken because from http://piratesonline.wikia.com/wiki/Developer_Diary_14_-_Plotting_a_Course_for_the_Future they intended the Kraken to be part of the next story chapter in 09, so either they scrapped the idea, or they're holding onto it.