This was the second Pelayo. She was built on 1900 directly with this name. This shipping company was in the orbit of the British company MacAndrews, which were the majority shareholders. She sank without a trace on November 1916 on a trip between Tyne and Barcelona.
The first Pelayo was built on 1872 for Serapio Acebal y Cía, also in the orbit of MacAndrews. On 1874 she passed to British flag, directly to MacAndrews, returning on 1886 to Spanish flag transferred to J. Roca and Co., and on 1894 to Compañía Marítima, both also in the orbit of MacAndrews, always conserving the name. On 1898 she was sold to a Belgian shipping company being renamed Equatoria. On 1899 she passed to a shipping company in HongKong, recovering the name of Pelayo. On 1908 she was bought by a Chinese shipping company and renamed Sing Yur. She was scrapped on 1911.