Make sure your specular map doesn't have alpha channel, otherwise it specular highlights won't appear in game, also it doesn't have to be greyscale, 8 bit RGB will do just fine (you might even have some colored speculars if you wish to add pearlescent effect to the hull, just like Constitution refit had)
In ship scripts, ship.py should also have lines pointing to maps with _specular / _spec suffix, it looks like this
# Search String for Glow, Search string for Specular, Suffix for specular
pLODModel = App.g_kLODModelManager.Create(pStats["Name"])
pLODModel.AddLOD(pStats["FilenameHigh"], 10, 120.0, 15.0, 15.0, 400, 900, "_glow", None, "_specular")
pLODModel.AddLOD(pStats["FilenameMed"], 10, 300.0, 15.0, 15.0, 400, 900, "_glow", None, "_specular")
pLODModel.AddLOD(pStats["FilenameLow"], 10, 600.0, 15.0, 30.0, 400, 900, "_glow", None, "_specular")