Ship the last of the tea from Cathay, possibly (5)

I believe the answer is:

yacht

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'ship the last' is the definition.
The answer and definition can be both man-made objects as well as being singular nouns.
Perhaps you can see an association between them that I can't see?

I can't explain the remainder of the clue.

Can you help me to learn more?

(Other definitions for yacht that I've seen before include "Type of boat" , "Luxury purchase" , "Sailboat" , "Sailing boat" , "Light, fast sailing-vessel" .)

I've seen this clue in the Evening Standard.

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