Floating is not the same as being stable
A ship will float as long as the weight of the ship is equal to the amount of water it displaces. That is Archimedes’ principle. But floating is one thing; remaining stable is another.
A light ship sits high in the water and has a high centre of gravity. This makes it more sensitive to wind and waves. A heavier ship sits deeper and is more stable, because its centre of gravity is lower. If a ship is too light, the crew will add ballast: extra weight to make the vessel more stable in the water.