This memorial is dedicated to the memory of Royal Canadian and Merchant Naval Ships and Shipmates past and present. It was erected by the City of Thunder Bay and N.O.A.C., R.C.N.A., L.S.R. (Motor) Old Boys' Association, A.N.A.F. Unit 257 Thunder Bay, The Senator Norman M. Paterson Foundation.
The following memorials are part of the Anchorage Memorial:
Anchorage Memorial Bell, Carronades, Ships Tribute, S.S. Rappahannock Anchor, Mariners' Monument, and Thunder Bay Sailors' Plaques.