The Correillo La Palma is the last living testament to the first successful attempt to unite the Canary Islands by sea. Following initial attempts in the second half of the 19th century, in 1911 the Government decided to open to tender the inter-island transportation routes for goods and passengers in the Canaries. The company Vapores Canarios, an affiliate of the British enterprise Elder Dempster, won the public contract and extended the routes that had been in operation since 1888 to all the islands. In order to honour this more demanding contract, they had to substitute the old steamships for faster vessels that were able to cast anchor in the island's shallow natural ports.

With this objective in mind, six new ships were built: three medium-sized and three smaller boats called 'playeros' that were able to anchor in the natural coves. To meet the demands of the governmental concession, in 1911, building work began on La Palma, the León y Castillo and the Viera y Clavijo (all designed to carry heavier cargos) and the shallow-water vessels, Fuerteventura, Lanzarote and Gomera-Hierro.

An English company in Middlesbrough, W. Harkess & Son Ltd., was responsible for building the boats. The shipping company's objective was to create a flotilla of boats that were suitable for Canarian waters. A year later, La Palma sailed out of the English shipyard. The vessel was just over 67 metres in length and would mark a turning point in the sailing history of the archipelago. In April, the vessel passed its sea tests with flying colours (reaching a speed of 11 knots) and reported for service at the islands only a month later. On 5th May 1912, the boat entered the bay of Santa Cruz de Tenerife for the first time and began active service.

From the outset, the boats played a crucial role in communications, not only between the capital ports, but also between the remote island villages that were geographically complex to reach due to an insufficient and poorly equipped transportation network. The public contract held by Vapores Interinsulares Canarios also included coastal traffic routes between the main natural ports of each island. In order to load and unload the passengers and goods in these areas, the vessels were equipped with small boats and were quickly able to cast anchor in places that had previously been inaccessible.

But it wasn't all plain sailing. The boats also faced moments of crisis. The First World War (1914-1918) caused an increase in the price of coal which meant the heavier cargo ships had to be moved to routes covering mainland Spain. The Spanish Civil War (1936-1939) presented further complications. The Canary Islands were part of Spain and the 'correillos ' fell into the hands of General Franco's troops. The La Palma was requisitioned by the rebel army and, after refitting it with various pieces of artillery, the vessel was used as military transportation.  

In 1938, a year before the end of the civil war, the La Palma returned to the islands. However, times had changed and the ships were now in need of serious refitting. The old boats were no longer able to satisfy the requirements of a passage that demanded more modern and comfortable vessels. In 1950, a thorough modernisation programme was carried out.

The first step was to swap the steam engines for diesel burners, diesel being both cheaper and more efficient than coal, in turn increasing the speed of the vessels. In addition, changes were made to the navigation instruments and the cabins. The La Palma, like its sister ships, was now as good as new, although it continued to carry the unmistakable stamp of an early 20th century vessel.

The La Palma continued in service until 17th May 1976, the day when a serious breakdown in one of its boilers caused it to be definitively withdrawn from the service. The boat was towed to Las Palmas de Gran Canaria and was moored there until 1986, the year when the Town Council of Tenerife took possession of the ship in order to convert it into a sailing museum for the Canaries. The boat is currently in dry dock in a shipyard in Tenerife. Since 2000, a number of workshops have been set up inside the ship to carry out restoration work and return it to its former glory.