It floats right astern (4)

I believe the answer is:

raft

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'it floats' is the definition.
The definition suggests a singular noun which matches the answer.

'right astern' is the wordplay.
'right' becomes 'r' (common abbreviation).
'astern' becomes 'aft' (I've seen this before).
'r'+'aft'='RAFT'

Can you help me to learn more?

(Other definitions for raft that I've seen before include "Travel on river, in a way" , "Flat floating device" , "A flat float" , "Simple boat" , "Flat floating structure used as boat" .)

I've seen this clue in The Globe and Mail.

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