I figured if I post this here, I will get a response far faster (or, indeed, any response at all, unlike some similar threads I have found) than posting it in Ship Simulator 2008 technical support:
I installed version 1.3 onto my new laptop and found that the game started up just fine. I tried the 1.x to 1.4.2 patch, but got the error that follows as a result. I uninstalled the game and reinstalled it (though the Mission Editor seems to have had its shortcut remain on the desktop) and this time applied the 1.3 to 1.4.2 patch. I got the same message:
"A channel that is needed for this project has an incorrect engine version: 6BE2854D-2DF4-464F-9084-74976A9F139C"
The most relevant piece of information I feel should be put here is that I am running the game on Windows 7. I will provide my DxDiag upon request.