Craft returning from South — Caymans? (5)
I believe the answer is:
yacht
'craft' is the definition.
(yacht is a kind of craft)
'returning from south caymans?' is the wordplay.
'returning' shows that the letters should be reversed in order.
'from' says the answer is hidden in the clue.
'thcay' is hidden in the letters of 'south caymans'.
'thcay' back-to-front is 'YACHT'.
(Other definitions for yacht that I've seen before include "Sailing or motor vessel for cruising or racing" , "Cathy (anag.)" , "Fast sailing vessel" , "Sailing boat" , "Sailboat" .)