Answer
316 Stainless Steel (UNS S31600) has slightly lower tensile strength than 302 (UNS S30200) due to its higher nickel and the addition of molybdenum. Consequently, a ring made of 316 will have a lower thrust capacity (approximately $10-15\%$ less) than a geometrically identical 302 ring. However, 316 is significantly more resistant to pitting and crevice corrosion in chloride-rich environments (e.g., seawater). Engineers must account for the lower yield strength ($ \sigma_y \approx 30$ ksi annealed, though higher when cold-worked for rings) when calculating the safety factor for the assembly.