On February 27, 2026, Mainstay Maritime Inc. (formerly Rand Logistics, Inc.), a leading marine infrastructure company specializing in dry bulk and liquid cargo movement throughout the Great Lakes region, announced it has entered into a definitive agreement to sell its three Canadian operating companies and associated fleet of six Canadian-flagged vessels to Algoma Central Corporation, a premier Canadian marine shipping company operating across the Great Lakes–St. Lawrence Seaway. The transaction includes Lower Lakes Towing Ltd. and its associated operating companies, along with six Canadian-flagged vessels: the Kaministiqua, Manitoulin, Robert S. Pierson, Saginaw, Michipicoten, and Valo. Financial terms of the transaction were not publicly disclosed. The transaction is subject to customary closing conditions and was expected to close in Q1 2026. Following the divestiture, Mainstay Maritime will concentrate exclusively on the U.S. Jones Act market, deepening its investment in its U.S.-owned, built, and crewed fleet. Stikeman Elliott LLP served as legal counsel and AMA Capital Partners served as financial advisor to Mainstay Maritime, while Borden Ladner Gervais LLP served as legal counsel to Algoma Central Corporation.