A CLIPPER is a fast sailing ship with three or more masts and a square rig. It was developed in the 19th century for trade, especially in the tea trade, and was known for its speed. A SCHOONER is a type of sailing vessel characterized by the use of fore-and-aft sails on two or more masts. It was originally used as a cargo vessel in the 18th and 19th centuries. A CARAVEL is a small, highly maneuverable sailing ship developed in the 15th century by the Portuguese for long voyages of exploration. It was characterized by its lateen sails and was used for both military and commercial purposes.