Spending far too much for ship that's changed hands (10)
I believe the answer is:
profligate
'spending far too much' is the definition.
(profligate means spending too much money)
'for ship that's changed hands' is the wordplay.
I cannot quite see how this works, but
an anagram of 'for' is 'rof' which is within the answer.
This may be the basis of the clue (or it may be nonsense).
(Other definitions for profligate that I've seen before include "Husband would not be" , "extravagant type" , "Recklessly wasteful" , "Wastrel" , "Debauched" .)