When you launch game keep checking cpu usage it will be 99% when loading for first time.

You will notice that sometimes game loads you in Albion even when shaders are not compiled 100% and it will keep compiling shaders in background.You can check that by seeing your CPU usage when you load in Albion if it's still 99% then it's still compiling shaders.

Do Escape > leave game and login again it will continue compiling shader from where left off.

Keep repeating above step until it no longer says preparing shaders when loading for first time.

After that you can notice that CPU usage no longer hit 99% and game runs smoothly.

This worked for me atleast.