June 27, 2019
BC Ferries’ report of the fiscal year ending on 31 March 2019, sees the following highlights:
- Consolidated net earnings of $52.2 million for fiscal 2019 ($59.9 million)
- Highest vehicle traffic levels ever
- Passenger traffic levels were the second highest in the company’s history.
- Increase in operating because of higher bunker prices, wage rate increases and higher depreciation. As a result, total operating expenses increased $36.4 million from $784.3 million to $820.7 million.
BC Ferries invested:
- $133.5 million in vessel upgrades and modifications
- $49.0 million in new vessels
- $28.2 million in information technology
- $19.5 million in terminal building upgrades
- $10.9 million in terminal marine structures
BC Ferries now has five vessels operating on LNG, and is looking at all possible “green” solutions. It currently has two Island Class electric battery hybrid ships under construction. When electric technology matures and electricity is available in the quantities required, BC Ferries plans to operate them as fully electric ferries.
BC Ferries also continues to focus on fare affordability.
