Commissioned by Saudi Arabian businessman Sheikh Abdul Mohsen Abdulmalik Al-Sheikh,[1] Pelorus was built at the Lürssen subsidiary repair shipyard in Schacht-Audorf Rendsburg, Germany.

The conceptual design was completed in 1999 by Tim Heywood, work began in 2000, and the yacht entered service in 2003.

While owned by Abramovich, the yacht had a full-time crew of up to 46, in addition to a large security contingent that travelled with his family.

Pelorus would cruise the western Mediterranean Sea during the summers, and commonly ventured down through the Suez Canal for the winters.

In 2005, Abramovich lent Pelorus to Frank Lampard and John Terry for two weeks as a bonus for being the two best players at his English football club Chelsea F.C.