Built in 1935 as Hatona, in 1937 she was renamed Margrethe and 1992 Margrethe I.
From 1937 to 1970 she sailed on the lakes of Bagsværd, Lyngby and Furesø. In 1970 she was sold to the Haderslev Tourism Board to cruise on Haderslev Lake.
In 1990 it was chartered to Viborg Tourism Board to sail on the lakes there.