Make progress in freezing conditions pulling up ocean's fish (5-5)

'make progress' is the definition.
Although both the answer and definition are verbs in their base form, I don't see how they can define each other.

'freezing conditions pulling up ocean's fish' is the wordplay.
'freezing conditions' becomes 's' (I can't explain this - if you can you should give a lot more credence to this answer).
'pulling up' says the letters should be written in reverse.
'ocean' becomes 'deep' (I've seen this in another clue).
'fish' becomes 'skate' (skate is a kind of fish).
'deep' back-to-front is 'peed'.
's'+'peed'+'skate'='SPEED SKATE'

'in' acts as a link.

Can you help me to learn more?