She was built in 1865 by Robert Steele & Company, Greenock, and was of composite construction: wooden planking on iron frames.

[1]: 133–134, 152, 163–166 Sir Lancelot was typical of all of Steele's ships, celebrated for their beauty of model, perfection of build, and superb finish.

[2]: 92–93  In the poem By the Old Pagoda Anchorage, she is referred to as "Sir Lancelot of a hundred famous fights with wind and wave".

[3] Captain Richard 'Dickie' Robinson of Workington was persuaded to leave the Fiery Cross to take charge of the new clipper.

In other years, there was one passage from Hong Kong to London made during the more favourable north-east monsoon, also of 89 days, by the Lothair in 1873/74.

The consensus view, taking into account the season and the distance, is that Sir Lancelot's 1869 passage was the fastest from China to England.

Under Captain Edmonds, Sir Lancelot made an outward passage of 97 days to Hong Kong, arriving on 25 Feb 1870.

Even after these changes, she retained the ability to make fast passages: in the 1877-78 tea season she achieved 94 days from Shanghai to New York.