Lifting Titan's Veil
Lorenz's book covered this. Tom is right that the rotation is synchronous, but the orbit is also elliptical, so a stationary tide would rise and fall during the course of the orbit.
Someone figured out that massive tides from widespread oceans would have eliminated the elliptical orbit, and therefore concluded that there were no widespread oceans. Smaller liquid bodies would still be possible, however.
I plan to re-read Lorenz's book soon and see how well he did in his predictions.