Paceship Yachts Limited was a Canadian, and later American, boat builder originally based in Mahone Bay, Nova Scotia.

The company was founded in 1962 and specialized in the design and manufacture of fiberglass sailboats.

[2] The Industrial Shipping Company Limited of Nova Scotia (ISC) produced plywood boats for Mahone Bay Plycraft in its Mahone Bay factory, until the building burned down in 1956.

The factory was rebuilt and plywood boat construction restarted, but it quickly shifted to building boats from a then-new material, fibreglass, becoming one of the earliest builders of fibreglass small powerboats and sailboats.

The early 1980s recession impacted sailboat sales and, as a result, AMF sold the PY26 design and tooling to Tanzer Industries in 1981.