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Answer - The simple answer is that ships, even those weighing hundreds of thousands of tons, weigh less than water. More-precisely, they weigh less than the amount of water they displace. For a ship to float, its mass has to be equal to the mass of the water it displaces or equal to the density of the water multiplied by the volume of water it displaces.

Referents: http://www.ask.com/question/why-do-iron-ships-float


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