Key Highlights:
- On May 25, the Government of Canada announced a $1.8 billion investment in the Canadian Coast Guard’s small boat fleet.
- The funding will be used to acquire up to 61 vessels, including six mid-shore multi-mission vessels and 34 Cape-class lifeboats.
- The National Shipbuilding Strategy has contributed $21.26 billion to Canada’s GDP and created/maintained 18,000 jobs annually between 2012 and 2022.
- Small vessel contracts awarded under the strategy contribute $389.4 million to GDP and support 293 jobs annually.
- The Canadian Coast Guard, with over 100 vessels, assists the Royal Canadian Navy and ensures maritime safety.
Detailed Report:
In a move to bolster its maritime capabilities, the Government of Canada has committed to investing an additional C$2.5 billion ($1.8 billion) in the recapitalization of the Canadian Coast Guard’s (CCG) small boat fleet. The investment, announced on May 25, aims to augment the CCG’s existing capabilities by acquiring dozens of vessels specifically designed for operation in shallow coastal waters, inland lakes, and rivers where larger platforms are unable to navigate effectively.
Under this new funding, the CCG is set to acquire up to 61 additional small vessels, which will significantly enhance its operational capacity in vital areas. The investment will not only focus on procuring new vessels but also replacing outdated marine platforms and equipment, ensuring that the CCG maintains its high standards of service and efficiency.
The allocated funds will support the acquisition of various types of vessels, including mid-shore multi-mission vessels, a near-shore fishery research vessel, specialty vessels, and Cape-class lifeboats. By diversifying the fleet, the CCG will be better equipped to respond to emergencies, conduct research missions, and provide specialized services to protect Canada’s coastal and inland waters.
This investment comes as a part of Canada’s National Shipbuilding Strategy, which has proven to be a significant contributor to the country’s economy. Since 2012, the strategy has already delivered 16 small vessels, such as search and rescue lifeboats and channel survey and sounding vessels, to the CCG. These contracts alone have contributed an estimated C$389.4 million to Canada’s GDP and created or maintained 293 jobs annually through the marine industry and associated consumer spending.
Moreover, the National Shipbuilding Strategy has had a remarkable impact on Canada’s economy, with contracts awarded under the initiative contributing approximately C$21.26 billion ($1.93 billion) annually to the country’s GDP. This sustained investment has generated over 18,000 jobs each year between 2012 and 2022, stimulating growth in the maritime shipbuilding sector and its Canadian suppliers.
Although primarily a civil maritime organization, the CCG’s fleet can be called upon to support the Royal Canadian Navy in various operations and training exercises. With over 100 vessels at its disposal, including medium and heavy icebreakers capable of displacing up to 5,000 tons, the CCG plays a vital role in ensuring Canada’s maritime security and the safety of its coastal communities.
The additional investment of C$2.5 billion ($1.8 billion) reflects Canada’s commitment to maintaining a strong and modernized Coast Guard. By providing the CCG with state-of-the-art vessels and equipment, the government aims to further strengthen its ability to respond effectively to emergencies, protect its waters, and support various marine activities.
As the maritime shipbuilding industry welcomes this investment, it is expected that the National Shipbuilding Strategy will continue to contribute significantly to Canada’s economic growth, creating job opportunities and driving innovation in the marine sector.
The recapitalization of the Canadian Coast Guard’s small boat fleet is a testament to the government’s dedication to safeguarding Canada’s coastal waters and ensuring the safety of its citizens, while also promoting economic development in the maritime sector.
To wrap up, Canada’s investment in the Coast Guard fleet:
- This investment demonstrates Canada’s commitment to protecting its citizens and valuable marine resources.
- By providing modern vessels and updated equipment, the government aims to ensure the Coast Guard’s effectiveness in safeguarding coastal waters.
- The National Shipbuilding Strategy’s contributions to the economy, job creation, and industry growth are further reinforced by this investment.
- Overall, this funding signifies a significant stride towards a safer and more prosperous maritime future for Canada.
