PS Princess Margaret was a passenger vessel built for the London and South Western Railway and London, Brighton and South Coast Railway in 1893.

[2] She was constructed for a joint venture between the London and South Western Railway and the London, Brighton and South Coast Railway for the passenger trade to the Isle of Wight.

[3] In 1912 a strong flood tide carried her against the flagship HMS Victory.

Her stern was slightly twisted, and the Victory's companion ladder was damaged.

[4] On 6 December 1920 she damaged her stern in a collision with the destroyer HMS Tarpon.