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Built in 1874 in Sunderland, England, by Bartram, Haswell, & Co., she was originally named Clan Macleod. She was employed carrying cargo around the world, and rounded Cape Horn 23 times in 26 years. In 1900 she was acquired by Mr J J Craig, renamed James Craig in 1905, and began to operate between New Zealand and Australia until 1911. Like many other sailing ships of her vintage, she fell victim to the advance of steamships, and was first laid up, then used as a hulk, until eventually being abandoned at Recherche Bay in Tasmania. In 1932 she was sunk by fishermen who blasted a 3-metre hole in her stern. Restoration of James Craig began in 1972, when volunteers from the Lady Hopetoun and Port Jackson Marine Steam Museum (now the Sydney Heritage Fleet) refloated her and towed her to Hobart for initial repairs. Brought back to Sydney under tow in 1981, her hull was placed on a submersible pontoon to allow work on the hull restoration to proceed. Over twenty-five years, the vessel was restored, repaired by both paid craftspeople and volunteers and relaunched in 1997. In 2001 restoration work was completed and she now goes to sea again.