Yes Harry, It's a type of ship, and the name comes from the French.
corvette [kɔːˈvɛt]n (Military) a lightly armed escort warship[from Old French, perhaps from Middle Dutch corf basket, small ship, from Latin corbis basket]Collins English Dictionary – Complete and Unabridged © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003