Shipbuilding / Maritime / Arctic

Where it stands

Each step compares the last four complete quarters with the two years before. A theme usually moves left to right: companies push, Congress and the White House act, the government buys, and markets respond.

1. 1. Companies pushing
   Steady

   185 companies and groups lobbied on it in Q2 2026, against 171 a year earlier.

2. 2. Congress
   Steady

   6 bills introduced and 0 became law in the last four quarters, against 7 and 0 a year before that.

3. 3. White House and agencies
   Rising

   0 proposed rules, 2 final rules and 0 presidential actions in the last four quarters, against 1 a year before that.

4. 4. Government buying
   Steady

   707 purchase plans and award notices in the last four quarters, against 599 a year before that (records start October 2023).

5. 5. Markets
   Falling

   0 insider purchases in the theme's companies in the last four quarters, against 4 a year before that. Their stocks: +52% over the same year, against +14% for the S&P 500. Among the 50 largest holdings of the funds we track, these stocks were worth $1.6B at the end of Q1 2026, against $1.6B a year earlier; the figure moves with prices and with how many funds rank them that high.

The setup

The US government is making a significant, multi-billion dollar push to enhance its polar maritime capabilities and rebuild its shipbuilding industrial base. This effort is spearheaded by the U.S. Coast Guard's procurement of new Arctic Security Cutters and the Department of Defense's strategic investments in shipyard infrastructure and a comprehensive plan to revitalize naval shipbuilding.

How this developed

1. Nov 20, 2024USCG awards OFFSHORE SERVICE VESSELS, L.L.C. $126.9M for a commercially available polar icebreaker (CAPI).Federal contract
2. Aug 26, 2025USCG awards WHITING-TURNER CONTRACTING COMPANY $138.6M for CERCLA clean-up and waterfront recapitalization at Base Seattle to support new Polar Security Cutters.Federal contract
3. Dec 19, 2025USCG awards BOLLINGER SHIPYARDS LOCKPORT, L.L.C. a $2.14B letter contract for Arctic Security Cutters.Federal contract
4. Dec 26, 2025USCG awards RAUMA MARINE CONSTRUCTIONS OY $1.12B for the purchase of two Arctic Security Cutters.Federal contract
5. Feb 10, 2026USCG awards DAVIE DEFENSE INC. a $3.5B letter contract for five Multi-Purpose Polar Ship (MPPS-100) vessels, referred to as Arctic Security Cutters.Federal contract
6. Aug 13, 2026Presidential Memorandum directs rebuilding the US Navy and America's shipbuilding industrial base, including adopting a 'Finland Model' for foreign shipbuilders.Executive action
7. Sep 29, 2026USCG awards WHITING-TURNER CONTRACTING COMPANY $139M for Base Seattle infrastructure to support new Polar Security Cutters.Federal contract
8. Sep 30, 2026Department of Transportation awards TOTE SERVICES, LLC $497M for MRIV build slot reservation, signaling investment in maritime infrastructure.Federal contract

The full story, year by year

* Year to date. Lobbying is the most companies and groups naming the theme in any one quarter. Insider buys are officer and director open-market purchases in HII, KEX, MATX. Fund holdings are the value of these companies among the top 50 positions of the funds whose 13F filings we track, at the latest quarter of each year. Stock returns are an equal-weight basket of the same companies with prices on file, split-adjusted, without dividends, against the S&P 500 over the same quarters.

• Lobbying before 2025 is still loading for this theme, so earlier years undercount.
• Lobbying reports for Q3 2026 are still being filed, so the comparison uses Q2 2026.

Why it matters

• The USCG has committed over $6.7 billion across three contracts (E5, E6, E7) for new Arctic Security Cutters, demonstrating a rapid and substantial investment in polar maritime capabilities.
• The Presidential Memorandum (E10) signals a strategic shift in US shipbuilding policy, including potentially allowing foreign shipbuilders to bid on up to three ship classes if they invest in US shipyards and transfer technology.
• Significant infrastructure investments are being made to support these new vessels, with over $277 million allocated for Base Seattle (E3, E12) to homeport the new Polar Security Cutters.
• The Department of Transportation's $497 million contract (E13) for MRIV build slot reservation indicates a broader federal commitment to expanding US shipbuilding capacity beyond military vessels.

Companies exposed to this theme

The record · 9 items, oldest first

• Nov 20, 2024Federal contractOFFSHORE SERVICE VESSELS, L.L.C.: THE USCG IS AWARDING A CONTRACT FOR A COMMERCIALLY AVAILABLE POLAR ICEBREAKER (CAPI) TO ENHANCE NATIONAL SECURITY AND ARCTIC OPERATIONS. INC
• Aug 26, 2025Federal contractWHITING-TURNER CONTRACTING COMPANY, THE: CERCLA CLEAN-UP EFFORT AND WATERFRONT RECAPITALIZATION AT BASE SEATTLE TO SUPPORT THE HOMEPORTING OF NEW USCG POLAR SECURITY CUTTERS.
• Dec 19, 2025Federal contractBOLLINGER SHIPYARDS LOCKPORT, L.L.C.: LETTER CONTRACT AWARD OF ARCTIC SECURITY CUTTERS
• Dec 26, 2025Federal contractRAUMA MARINE CONSTRUCTIONS OY: PURCHASE OF TWO ARCTIC SECURITY CUTTERS FOR THE USCG
• Feb 10, 2026Federal contractDAVIE DEFENSE INC.: THE PURPOSE OF THIS LETTER CONTRACT IS FOR THE DELIVERY OF FIVE (5) EACH MULTI-PURPOSE POLAR SHIP (MPPS-100) VESSELS HEREAFTER REFERRED TO A
• Jul 31, 2026Federal contractBOLLINGER SHIPYARDS LOCKPORT, L.L.C.: $2.1B Department of Homeland Security Contract
• Aug 13, 2026Executive actionPresidential Memorandum: Rebuilding the United States Navy and America's Shipbuilding Industrial Base
• Sep 29, 2026Federal contractWHITING-TURNER CONTRACTING COMPANY, THE: $139M Department of Homeland Security Contract
• Sep 30, 2026Federal contractTOTE SERVICES, LLC: $497M Department of Transportation Contract

Some keyword matches were judged unrelated to this theme and are excluded from the record above.

How this story evolved

• Oct 16, 2026, 5:13 AM ETreal61 recordslatest record Oct 13, 2026

  USCG commits $8B+ to Arctic icebreakers and infrastructure, while a Presidential Memo pushes for a 'Finland Model' in Navy shipbuilding.

  The US government is rapidly expanding its polar maritime capabilities and overhauling its shipbuilding strategy. The Coast Guard has initiated a multi-billion dollar program to acquire new Arctic Security Cutters and upgrade supporting infrastructure. Concurrently, a Presidential Memorandum seeks to rebuild the Navy and its industrial base by allowing foreign shipbuilders to participate under specific conditions.

• Oct 15, 2026, 5:14 AM ETreal314 recordslatest record Oct 14, 2026

  Navy invests over $4.5B in dry dock and shipyard infrastructure, while a Presidential Memo pushes for a 'Finland Model' in shipbuilding.

  The US government is making significant investments in its shipbuilding and maritime infrastructure, with a clear focus on expanding dry dock capabilities and modernizing shipyards. This push is underscored by a Presidential Memorandum directing strategic changes to naval acquisition and industrial base policy, including exploring foreign partnerships to build US shipyards. The earliest evidence of this trend dates back to late 2024, but it has accelerated dramatically in 2026 with major contract awards and a high-level policy directive.

• Oct 14, 2026, 5:14 AM ETreal55 recordslatest record Oct 13, 2026

  DoD invests $4.6B in dry dock upgrades and awards $4.1B for new Polar Security Cutters, while a Presidential Memo seeks to rebuild the shipbuilding industrial base.

  The US government is making a significant, multi-pronged push to revitalize its shipbuilding industrial base and enhance its maritime capabilities, particularly in the Arctic. This effort is characterized by substantial investments in dry dock infrastructure and the procurement of specialized vessels, alongside a presidential directive aimed at fundamentally reshaping the domestic shipbuilding industry. The earliest evidence of this renewed focus dates back to late 2025, with a rapid acceleration in 2026.

• Oct 13, 2026, 5:13 AM ETreal54 recordslatest record Oct 1, 2026

  DoD and DHS invest over $7.9B in shipbuilding and dry dock infrastructure, while a Presidential Memorandum seeks to rebuild the US shipbuilding industrial base.

  The US government is making significant investments in its shipbuilding and maritime infrastructure, with a particular focus on Arctic capabilities and expanding the industrial base. This push is driven by both Department of Defense and Department of Homeland Security contracts, alongside a Presidential Memorandum aiming to reshape the future of naval construction and maintenance. The earliest evidence of this renewed focus dates back to late 2025, accelerating significantly in 2026.

• Oct 12, 2026, 5:13 AM ETreal54 recordslatest record Oct 1, 2026

  DoD and DHS invest over $7.9B in shipbuilding and dry dock infrastructure, while a Presidential Memorandum seeks to rebuild the US shipbuilding industrial base.

  The US government is making significant investments in its shipbuilding and maritime infrastructure, with a particular focus on Arctic capabilities and expanding the industrial base. This push is driven by both Department of Defense and Department of Homeland Security contracts, alongside a Presidential Memorandum aiming to reshape the future of naval construction and maintenance. The earliest evidence of this renewed focus dates back to late 2025, accelerating significantly in 2026.

• Oct 11, 2026, 5:13 AM ETreal336 recordslatest record Oct 9, 2026

  Navy invests over $4.5B in new dry docks and awards $3.4B for Arctic Security Cutters, while a Presidential Memo pushes for shipbuilding industrial base expansion.

  The US Navy is making significant investments in its shipbuilding and maintenance infrastructure, with over $4.5 billion committed to new dry docks in Maine and Hawaii. Concurrently, the Department of Homeland Security has awarded over $3.4 billion for Arctic Security Cutters, signaling a strategic focus on polar capabilities. A Presidential Memorandum further underscores this commitment by directing measures to rebuild the US Navy and its industrial base, including exploring foreign partnerships and competitive acquisitions.

• Oct 10, 2026, 5:13 AM ETreal54 recordslatest record Oct 1, 2026

  DoD and DOT commit over $7.5B to shipbuilding and dry dock infrastructure, while a Presidential Memo seeks to rebuild the Navy and industrial base.

  The US government is making a concerted push to revitalize its shipbuilding capabilities and expand its maritime presence, particularly in the Arctic. This effort is driven by significant Department of Defense and Department of Transportation contracts for new vessels and critical infrastructure, alongside a Presidential Memorandum aimed at fundamentally reshaping naval procurement and industrial capacity. The actions signal a long-term strategic investment in maritime security and economic competitiveness.

• Oct 9, 2026, 5:13 AM ETreal335 recordslatest record Oct 7, 2026

  US Navy commits $4.6B to dry dock upgrades and orders new Arctic icebreakers, while exploring foreign shipbuilding partnerships.

  The US government is significantly investing in its shipbuilding and maritime infrastructure, particularly for naval and Arctic capabilities. This push includes major dry dock modernization projects and the procurement of new icebreakers, alongside a strategic shift towards potentially leveraging foreign shipbuilding expertise to rebuild the domestic industrial base. The effort is driven by the Department of Defense and the Coast Guard, with a clear directive from the White House to expand naval capacity and modernize facilities.

• Oct 8, 2026, 5:13 AM ETreal333 recordslatest record Oct 7, 2026

  Navy commits $4.6B to dry dock upgrades and awards $2B for first Polar Security Cutter, while a Presidential Memo pushes for shipbuilding industrial base expansion.

  The US government is making significant investments in its shipbuilding and maritime infrastructure, particularly for polar capabilities and naval readiness. This push is driven by substantial contract awards for dry dock modernizations and new vessel construction, alongside a Presidential Memorandum aimed at revitalizing the domestic shipbuilding industrial base.

• Oct 7, 2026, 5:16 AM ETreal337 recordslatest record Oct 5, 2026

  Navy invests billions in dry dock upgrades and Arctic icebreaker construction, while a Presidential Memorandum pushes for shipbuilding industrial base expansion.

  The US government is making significant investments in its shipbuilding and maritime infrastructure, particularly focusing on dry dock modernization and Arctic capabilities. This push is underscored by a Presidential Memorandum directing strategic changes to naval procurement and industrial base expansion, alongside major contract awards for new vessels and shipyard upgrades.

• Oct 6, 2026, 5:13 AM ETreal1100 recordslatest record Oct 5, 2026

  Navy commits $4.6B to dry dock upgrades and $3.3B to Arctic shipbuilding, while a Presidential Memo pushes for shipbuilding industrial base expansion.

  The US government is making a significant, multi-pronged push to expand its shipbuilding capacity and Arctic maritime presence. This effort is driven by substantial Department of Defense contracts for dry dock infrastructure and new polar vessels, alongside a Presidential Memorandum directing a strategic overhaul of the naval shipbuilding industrial base. The actions indicate a long-term commitment to maritime power projection and Arctic security.

• Oct 5, 2026, 5:13 AM ETreal320 recordslatest record Oct 2, 2026

  Presidential memo directs Navy shipbuilding overhaul, 'Finland Model' for foreign shipbuilders, and new Arctic cutter solicitations.

  The US government is initiating a significant overhaul of its naval shipbuilding strategy and Arctic capabilities. This effort is driven by a Presidential Memorandum that mandates changes to aircraft carrier construction and opens the door for foreign shipbuilders to establish US operations. Concurrently, the Department of the Navy is investing billions in dry dock infrastructure, and the Coast Guard is actively soliciting bids for new Arctic security cutters.