In September 2010, the Hull Daily Mail reported that she was in an advanced state of demolition, despite the efforts of local people to buy the historic vessel and restore her.

She had a straight stem and counter stern with the usual good lines of such a vessel though the paddle boxes and sponsons could give an impression of a greater beam.

The PS Lincoln Castle was built with good reason in a different yard from the earlier vessels with a different engine with different layout and vastly different accommodations and equipment as any user of the three would amply testify.

This engine, built by Ailsa of Troon, Scotland, was a rare survivor of its type from this manufacturer and of particular historical significance due to its survival within the hull of its intended vessel.

[6] The vessel was designed for and operated from New Holland to Hull (an important local factor financially, geographically, economically and socially, as the raison d’être of the ferry operation was to serve the north-east Lincolnshire hinterland of Grimsby in its connexion with the nearest city, Hull and its hinterland) by the London & North Eastern Railway (LNER) in Grimsby by J.F.

[citation needed] The paddle steamer was converted into a pub and opened at Hessle, close to the Humber Bridge which had, since 1981, rendered the remaining ferries obsolete.

Thinning of her hull due to corrosion and pinhole seepage through some of her bottom plates led to her being taken out of public use in 2006, a move considered to be only temporary while repairs were conducted.

In 2009 it was announced that unless a new owner could be found, the vessel could be scrapped, despite the fact that she was unique (and yet somehow not listed on the Core Register of Historic Ships),[7] and had survived these 70 years in remarkable condition.

It was also stated that other avenues were being pursued, and that the PSPS was acting in support of the Lincoln Castle Preservation Society, later formed to save the ship when all attempts to purchase it were rejected.

In light of what was to follow the society has been criticised for declining to take on the Lincoln Castle, preferring to concentrate on their existing ships,[8] even though one, the MV Balmoral, is not a paddle-steamer.

The ship's owner was to claim that having been left unused for two decades the channel leading to Alexandra Dock was thought to have silted at the seaward end due to wash from container ships turning as they entered or exited the harbour mouth, requiring dredging to allow free passage (despite the paddle steamer's undoubtedly shallow draught) and that dredging would require insurance to cover possible damage to the channel.

The representatives of the owner had stated that they had completely ruled out any chance of transferring the vessel to the Hull-based Lincoln Castle Preservation Society.

Although demolition work had started some months ago, there were several buyers for the engine and other machinery, including a museum that had cleared a space to take the items, and we were actively involved in facilitating this.

Funding has been granted from the John Ross Foundation towards this project, which includes a plaque giving details of the historic vessel as well as bollards from the ship itself.

On 31 March 2011, the Lincoln Castle Preservation Society launched a bid to buy the ship's parts from scrap and rebuild the vessel as a tourist attraction.