She was built for the African Steam Ship Company, which was part of Elder, Dempster & Co. Italian owners bought her in 1938.

[2] Between 1912 and 1914 Elder, Dempster took delivery of a class of six cargo steamships, built by three British shipbuilders.

Palmers Shipbuilding and Iron Company at Hebburn on the River Tyne launched Ebani and Eboe in 1912.

Irvine's Shipbuilding and Dry Dock Company in West Hartlepool on the River Tees launched Eloby in 1912 and Elele in 1913.

They were managed by the Flota Mercante del Estado ("State Merchant Fleet");[6] and registered in Buenos Aires.

[13] In June 1942 Rio Tercero left New York for Buenos Aires, carrying 3,500 tons of general cargo, including coal and mail.

[14] Rio Tercero sent an SOS message and sank slowly, about 120 nautical miles (220 km) off New York at position 39°15′N 72°32′W / 39.250°N 72.533°W / 39.250; -72.533.

U-202's commander, Kapitänleutnant Hans-Heinz Linder, claimed that the ship displayed no neutrality markings, and he did not know she was Argentinian until he questioned the survivors afterward.