5 minutes is the minimum. It will take as long as 100 minutes. That is a considerable waste of time in a game that excels at disrespecting a player's time.
You have 100 minutes to do whatever you want with your current ship, not just sit on your bottom being idle. I'd say that's 100 minutes much better spend than when transferring ships right now, where you are stalled in the meantime since you have to conduct this tedious process yourself.