I'm not so sure how it is going to work, but I will keep an eye on it.
Before the cycle of destructions, I think the world was at peace and ruled by the Sea God Poseidon and the Earth God Pluton. The Sea God ruled over the All Blue, while the Earth God was an ancient giant who ruled Pangea.
Loki and Shirahoshi are the reincarnations of those gods, and the two rulers who are destined to meet again.
 
Before the cycle of destructions, I think the world was at peace and ruled by the Sea God Poseidon and the Earth God Pluton. The Sea God ruled over the All Blue, while the Earth God was an ancient giant who ruled Pangea.
Loki and Shirahoshi are the reincarnations of those gods, and the two rulers who are destined to meet again.
If I understand what you are saying, Earth God is supposedly an ancient giant who later become a reference for someone to design a ship based on. Seems possible but I don't agree on Loki being Earth God, Loki already inherited the powers of God of War which he will soon inherits the title too, so giving him two Gods title is off Oda's standard.
 
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