Prows of vessels steaming in arrow’s range (7)
I believe the answer is:
'arrow's range' is the definition.
(within the range of a bow)
'prows of vessels steaming' is the wordplay.
'prows of vessels' becomes 'bows' (front parts of ships).
'steaming' becomes 'hot' (I've seen this in another clue).
'in' is the link.
(Another definition for bowshot that I've seen is " measurement of weapon's range".)