Princess Royal was launched at Great Yarmouth in September 1794 and for the next three years traded with the West Indies.

[6] The British government chartered Princes Royal to serve as a transport in a planned attack on Manila.

However, the British Government cancelled the invasion following a peace treaty with Spain and the EIC released the vessels it had engaged.

She left Diamond Harbour on 8 March, reached Simons Bay on 14 June and St Helena on 6 August, and arrived at The Downs on 18 October.

[7] On 6 February 1825 a collier brig ran into the "Princess Royal Transport" and carried off her bowsprit.