Fortune to fit equipment in ship (7)
I believe the answer is:
frigate
'ship' is the definition.
(frigate is a kind of ship)
'fortune to fit equipment in' is the wordplay.
'fortune' becomes 'fate' ('fate' can be a synonym of 'fortune').
'to fit equipment' becomes 'rig' (I can't justify this - if you can you should believe this answer much more).
'in' means one lot of letters goes inside another.
'fate' enclosing 'rig' is 'FRIGATE'.
Can you help me to learn more?
(Other definitions for frigate that I've seen before include "Ship" , "Warship - seabird" , "Naval escort vessel" , "Light warship" , "Warship; -- bird" .)