Fishermen in a boat are transporting a cast iron pipe. How will the draft of the boat change if the pipe is not immersed

Fishermen in a boat are transporting a cast iron pipe. How will the draft of the boat change if the pipe is not immersed in the boat, but tied from below under the bottom?

Since the boat and the pipe will become one system, in the beginning, the boat sank to such a volume to balance the Archimedean force with the force of gravity. When we tie the pipe from below, it will be in the water, and its volume will already be taken into account in the Archimedean force, and therefore the boat itself will be submerged less deeply than initially.