Ship sails and stays anchored in appointed lot (7)
I believe the answer is:
frigate
'ship' is the definition.
(frigate is a kind of ship)
'sails and stays anchored in appointed lot' is the wordplay.
I cannot quite understand how this works, but
'sails' could be 'rig' (I've seen this in other clues) and 'rig' is present in the answer.
'lot' could be 'fate' (synonyms) and 'fate' is found within the leftover letters.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for frigate that I've seen before include "Light warship" , "Ship" , "Naval escort vessel" , "Warship; -- bird" , "Warship - seabird" .)