Did navies exchange captured ships?

Were captured ships ever swapped back to their original nations for an equivalent vessel?

Equivalent ship exchanges were generally absent; vessels changed hands through capture, recapture, and allied transfer.

Warships changed flags through capture, recapture, sale, or transfer between allies, but not through an orderly swap system restoring vessels to their original navies. A captor assessed the prize according to condition, utility, and the needs of its own fleet. It might commission the ship, give it to an ally, convert it to another use, or dispose of it. Alceste's career is an example of that opportunistic system, not reciprocal exchange.