The ship was originally constructed in Norway in 1988 as a commercial fishing trawler named Atlantic Champion.

The vessel is powered by one Caterpillar 3612 geared diesel engine driving one controllable-pitch propeller, creating 4,000 brake horsepower (3,000 kW).

Teleost carries 400.00 m3 (87,990 imp gal) of diesel fuel, with a range of 12,000 nautical miles (22,000 km) at 12 knots (22 km/h) and can stay at sea for up to 42 days.

The vessel's construction was taken over by Langsten Slip-Batbyggeri AS at their yard in Tomrefjord, Norway and Atlantic Champion was completed on 14 July 1988.

[4][5] In September 2009 the Department of Fisheries and Oceans announced invitations for contracts to replace several of the Coast Guard's research vessels, including Teleost.