In 1939 Eimskip planned to replace the 1915[2] Gullfoss, but World War II intervened and the new ship was not launched until 8 December 1949.

Some days after launching, Gullfoss suffered a dust explosion, which killed four shipyard workers and injured two.

On 14 May 1950, she made her maiden voyage from Copenhagen, Denmark, carrying 164 passengers, arriving in Reykjavík, Iceland, on Saturday, 20 May, to a ministerial welcome.

In 1963, Gullfoss was damaged by fire whilst being inspected at her builder's yard and in 1966 she collided with MV Malmöhus near Copenhagen.

On 15 November 1973, Gullfoss was sold to Fouad A. Khayat & Co. (Orri Navigation Lines) of Jeddah, Saudi Arabia and renamed Mecca.