45470 – the second vessel in the line's history to be so named – was an iron-built paddle steamer operated by the Isle of Man Steam Packet Company.

Douglas was the second of three ships ordered for the company from the yards of Caird & Co. of Greenock, and was launched on 11 May 1864.

She had a registered tonnage of 709 GRT; length 227 ft; beam 26 ft; depth 14 ft. Douglas had a service speed of 15 knots (28 km/h; 17 mph),[2] with an indicated horse power listed as 1400, and a boiler pressure of 25 pounds per square inch (170 kPa).

Indeed, Snaefell is documented as being able to perform the run from Douglas to Liverpool in 4 hours 20 minutes, which would suggest a speed of slightly in excess of 15 knots (28 km/h; 17 mph).

After an uneventful career with the company, Douglas, along with her sister Tynwald, were disposed of by auction in 1888.