Answer:
False.
Step-by-step explanation:
The ship is capable of floating because its average density (considering the steel part and the air filled part) is less than the water density. Moreover, it is in equilibrium, partially immersed and subject to the action of two forces of the same and opposite modulus, the weight P and the thrust E, exerted by water.
But the stability of the ship does not depend on it alone. It also depends on the point of application of these forces. The weight force is applied to the center of gravity (CG), which is fixed, and the thrust is applied to the center of thrust (EC), which is variable.