The Nantucket islander who co-owns the Pequod with Bildad is Peleg. Ishmael encounters Peleg while seeking a berth aboard the ship, and Peleg helps manage the vessel’s preparations before its voyage.
Peleg and Bildad are both Quaker shipowners from Nantucket, but they have sharply different personalities. Bildad is cautious, solemn, and heavily concerned with thrift, while Peleg is blunter, more energetic, and more comfortable dealing directly with sailors. Although neither man serves as the Pequod’s active captain during the voyage, their ownership gives them authority over hiring and outfitting.
A common mix-up is confusing Peleg with the Pequod’s officers. Starbuck is the first mate, Stubb the second mate, and Flask the third mate. Peleg had previously served as a first mate under Ahab and has his own whaling experience, but in the opening chapters he is acting as an owner and shore-side manager. The Pequod’s unusual name also connects it to the Pequot people, reflecting Melville’s recurring interest in American history and cultural violence.