Upright fakery of ship's ropes and pulleys (8,7)

I believe the answer is:

standing rigging

I'm a little stuck... Click here to teach me more about this clue!

'upright fakery of ship's' is the definition.
I can't tell whether this defines the answer.

'ropes and pulleys' is the wordplay.
'ropes' becomes 'rigging' (I've seen this before).
'and' means one lot of letters go next to another.
'pulleys' becomes 'standing' (I can't justify this - if you can you should give a lot more credence to this answer).
'rigging' after 'standing' is 'STANDING-RIGGING'.

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

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