She underwent several changes in owner as companies were merged throughout the twentieth century, and spent time as a sea cadet training ship during the Second World War.

The vessel was delivered in sections by rail from Wivenhoe to Lakeside, Windermere and launched on 27 June 1891, becoming the largest ship on the lake.

[2] Tern was powered by two sets of horizontal two Westray Copeland crank compression expansion engines providing 200 bhp to a twin screw propeller.

She carried two masts and had an open navigating platform set forward of her amidships single funnel.

The local communities of Ambleside and Bowness had adopted the U-class submarine HMS Undine, built by Vickers-Armstrongs at nearby Barrow-in-Furness.

She was fitted with a short raked funnel, replacing her original tall one, and an enclosed wheelhouse was at some point built over the open navigating platform.

Her short funnel was replaced with a tall thin one, an awning covered most of her upper deck, with an enclosed wooden wheelhouse at the forward end.

[2] Tern continues to make two and a half sailings daily between Easter and November, carrying up to 350 passengers.

[2] Passenger facilities include a licensed bar serving refreshments, a centrally heated saloon, and toilets.