Two cargo ships (Fluid Mechanics)

[prophet05]

Problem: Consider two identical ships, one loaded with a cargo of cork (which floats), and the other empty. Which ship displaces more water?

My answer:
V=V
m_1>m_2

and,
\rho_1=\frac{m_1}{V}
\rho_2=\frac{m_2}{V}

so,
\rho_1>\rho_2

\rho_1 displaces more water because the mass added to the ship raises the density.

Conclusion: Is my approach to answering this question correct?

[Doc Al]

I don't quite understand your reasoning. Hint: What does Archimedes's principle tell you?