Old vessel returning from Bute (3)

I believe the answer is:

tub

I'm a little stuck... Click here to teach me more about this clue!

'old vessel' is the definition.
'tub' can be an answer for 'vessel' (tub is a kind of vessel). I'm not sure about the 'old' bit.

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for tub that I've seen before include "Clumsy boat" , "Maybe it sailed" , "Large plant pot" , "Large open vessel" , "Bath; clumsy ship" .)

I've seen this clue in the Evening Standard.

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