The company was founded in 1824 by Ferdinand Laeisz as a hat manufacturing company. He was quite successful and distributed his hats even in South America. In 1839, he had the three-masted wooden brigCarl built and entered the shipping business, but lack of success made him sell the ship a short five years later. Ferdinand's son Carl Laeisz entered the business in 1852. It was he who turned the F. Laeisz company into a shipping business. In 1857, they ordered a barque which they named Pudel, and from the mid-1880s on, all their ships had names starting with "P" and they became known as "the P-line". The last ship without a "P-name" was the wooden barque Henriette Behn which was stranded on the Mexican coast in 1885.
The Laeisz company specialized in the South Americannitrate trade. Their ships were built for speed, and they soon acquired an excellent reputation for timeliness and reliability, which gave rise to the nickname "the Flying P-Line". The five-masted barque made the voyage from Chile to England around Cape Horn in 1904 in just 57 days, a record at the time. The Laeisz company had some of the largest sailing ships ever built. They experimented with steel-hulled five-masters, first the barque Potosi and in 1902 the huge full-rigged ship with a length of,, and over. She could sail faster than and her best 24-hour distance was 392 sm in 1908 on her voyage to Yokohama. However, these ships turned out to be too big: their crews did not like them, and it became increasingly difficult to achieve a satisfactory utilization on the outbound leg from Europe to Chile. The later ships, such as or, returned to being smaller four-masted barques. During World War I, many of Laeisz' ships were blocked in Chilean ports and had to be handed over as war reparations. However, the Laeisz company was able to re-acquire many ships after the war and put them into service again. Towards the end of the 1920s, the company began pulling out of the nitrate trade and increasingly started transporting other goods, e.g. bananas. They also sold some of their older ships, for instance to Gustav Erikson in Finland who already had acquired the former Norddeutscher Lloyd-ship. The last sailing ship ordered by the Laeisz company was in 1926. Subsequently, the Laeisz company only ordered steamships.
Peking was a museum ship in New York City between 1975 and 2015. In 2017 a dock ship moved her back to Europe. In the future Peking will be a museum ship in her origin home harbour Hamburg, Germany.
, built 1917, burnt 1945 while loading in Valparaiso
, built 1902, after an accident in 1936 was scrapped in 1938
Other P-Line ships were:
Pudel, built 1857, sunk 1870
Palmyra, steel full-rigged ship built in 1889 by Blohm & Voss, Hamburg. Stranded on the Wellington Islands on the South Chilean coast 2 July 1908. The captain and the first mate were able to reach shore but the rest of the crew of 21 men disappeared in one of the lifeboats.