The Collaborative International Dictionary of English v.0.48:

Steeve \Steeve\ (st[=e]v), v. i. [imp. & p. p. Steeved; p. pr.
   & vb. n. Steeving.] [Cf. OD. steve staff, E. stem, n.]
   (Shipbuilding)
   To project upward, or make an angle with the horizon or with
   the line of a vessel's keel; -- said of the bowsprit, etc.
   [1913 Webster]