Karingal, and the other three remaining old wooden ferries, were taken out of service shortly after Karrabee's high-profile sinking at Circular Quay in 1984.

[citation needed] Karingal followed the Sydney Ferries Limited convention of naming their vessels after Australian Aboriginal words starting with "K".

[citation needed] Karingal, and sister Karrabee, were built by Morrison & Sinclair, Balmain for Sydney Ferries Limited's Parramatta River service.

[5] Both carvel planked boats were designed by J Harter under the supervision of T Brown, the company's works manager.

[9] Unlike other Sydney Ferries Ltd vessels, she is pushed, or pulled depending on direction, by a single propeller at one end.

Karingal was kept in service after the 1932 opening of the Sydney Harbour Bridge whereas 18 mainly older vessels were decommissioned due to the drop in passenger demand.

The new six-cylinder Henty and Gardner diesel engines, supplied by Ferrier & Dickenson, generated 300 bhp @ 290 rpm and gave her a speed of nine knots.

[8] In a modernisation drive, Sydney Ferries Limited painted their fleet, including Karingal, a yellow and green colour scheme over the originally varnished timber superstructure.

[14] The services and fleet were quickly rationalised with most of the larger remaining timber K-class steamers being decommissioned.

On her delivery voyage to Melbourne, she sprang a leak in heavy seas and sank on 14 June 1985 off Cape Conron on Victoria's south east coast.