Channel-Port aux Basques created a memorial in memory of the S.S. Caribou tragedy. In 1947, all members of the Newfoundland Railway Employees’ Welfare Association donated a day’s pay to fund its construction.
In 1962, the Canadian National (CN) Marine Division launched a new ferry, named in memory of Captain Taverner and his two sons. The MV Taverner first ran between Channel-Port aux Basques, Newfoundland and North Sydney, Nova Scotia before operating on the south coast of Newfoundland until June 1995.
The launching of the ferry M.V. Caribou by Marine Atlantic in 1986 is another example of honouring the victims of this tragedy. Fourteen survivors took part in its maiden voyage. This ship sailed across the Cabot Strait until 2010.
The memory of Agnes Wilkie was honoured in Manitoba, where a lake was named after her. The Royal Canadian Navy named a new Arctic and Offshore Patrol Vessel after Margaret Brooke. She was the first woman to receive such an honour. The ship officially joined the Navy in 2022.