At a special meeting of shareholders held on June 26, it was decided to increase the stock from $5,000,0000 to $10,000,000, with the distribution of new shares to be issued by the directors.

[4] In 1912 the Richelieu and Ontatio Navigation Co. took over the Niagara Navigation Company, covering operation of the steamboats Cayuga, Chicora, Chippewa, Carona and Ongiara, operating under the banner of the Niagara-Toronto Division and the Hamilton Division including the Hamilton Steamboat Company's steamships Macassa and Modjeska were also acquired along with the Turbinia, formerly owned by the Turbine Steamship Co.

Following railway dieselization, subsequent coal traffic would be moved by CSL to large fossil-fuel burning electrical power plants.

Most notably the popular Hamonic, Huronic and Noronic of the old Niagara Navigation Company 1902–1912 lineage (roughly 6,000 GRT and 350 foot a piece).

They ran together with Richelieu, the former Narraganset (1913) of Long Island Sound, which was purchased by CSL about the same time the other three were built by Davie.

With the Yarmouth Castle fire in 1965 near the Bahamas, stricter coast guard safety regulations in the form of the new international SOLAS program put an end to the three ship's long careers.

CSL was found responsible for the disastrous September 1949 fire and destruction of its ship the SS Noronic in Toronto Harbour.

CSL exploited this traffic by continually refining its self-unloading bulk carrier designs, coupled with improvements in stevedoring at various ports to arrive at a minimal number of human operators required.

In 1963, a non-controlling share of CSL was purchased by Montreal-headquartered Power Corporation, a Quebec industrial conglomerate with interests in electricity generation, pulp and paper, and oil and gas.

CSL continued operating and expanding its Great Lakes shipping line and the Collingwood and Lauzon shipyards through the 1960s, and witnessed several labour disputes.

CSL suffered losses in 1972 when forced to cover unexpected cost overruns in the construction of three 80,000-ton ocean-going tankers at Davie Shipbuilding.

CSL Group at this time included the shipping company, shipyards, engineering firms, and a bus service (Voyageur, previously known as Provincial Transport).

The following month, in August 1981, Paul Martin and his friend Lawrence Pathy with the help of Gordon Black, secured financing and announced their intention to purchase CSL Group Incorporated for the price advertised by Power Corporation.

By the mid-1980s, CSL's only remaining shipyard (Collingwood Shipbuilding) was undergoing financial difficulties and was closed on September 12, 1986, with the loss of 800 jobs.

In November 1988, President and CEO Paul Martin was elected as a Member of Parliament and stepped aside from directing the day-to-day operations of the company.

On February 1, 1994, Martin placed his shares in CSL Group Inc. under a "Supervisory Agreement" to be managed by lawyers and financial advisors, although he would be allowed to intervene in company decision-making should events warrant.

In June 2002, Martin quit the cabinet as Minister of Finance to pursue a bid for leadership of the Liberal Party of Canada.

Earlier figures released in 2003 had suggested CSL Group Inc. had only earned CA$137,000 in federal government contracts during this time period.

Throughout the 1990s, CSL Group Inc. oversaw the reflagging of several former Canadian-registered vessels which were placed under the shipping registries of nations commonly referred to as flags of convenience, where safety and labour laws were relaxed to be more business-friendly.

In 2001, they overtook Asia Pacific Marine Container Lines, also a Canadian shipping company, becoming the world's largest fleet of dry-bulk self-unloading vessels.

[12] The first of two Trillium-class bulk vessels, CSL Welland departed Yangfan Shipyard in early November 2014, and reached Montreal on January 2, 2015.