It's a large ship, the Bounty (7)
I believe the answer is:
largess
'bounty' is the definition.
(I've seen this before)
'it's a large ship' is the wordplay.
'it's a large' becomes 'large'.
'ship' becomes 'SS' (prefix in ship names eg SS Great Britain).
'large'+'ss'='LARGESS'
'the' is the link.
(Other definitions for largess that I've seen before include "Bounty" , "Generosity" .)
I've seen this clue in The Globe and Mail.
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