Safe Restart Funding Helps BC Ferries Address COVID-19 Impacts

By | 2021 Newsletter week 8 | No Comments

Q3

-39.6% or 2.9 million passengers

-22.3% or 1.6 million vehicles

Year-to-date

-42.1% or 10.6 million passengers

-26.9% or 5.3 million vehicles

The effects of COVID-19 have negatively impacted BC Ferries’ traffic and revenues over the current year. This trend is expected to continue in the near term as the province recovers from the effects of the pandemic.

In December 2020, BC Ferries received $308 million from the Safe Restart Program, a federal-provincial initiative.

BC Ferries applied nine months’ worth of Safe Restart funding, or $154.8 million, to Q3 revenues. Without this relief, the net loss for the three months ended December 31, 2020 would have been $56.4 million.

As a result of the funding, BC Ferries recorded net earnings of $98.4 million for the three months ended December 31, 2020, compared to a net loss of $8.3 million in the same quarter in the prior year.

On a year-to-date basis, BC Ferries’ net earnings were $74.3 million to December 31, 2020. Without federal-provincial Safe Restart funding, the company would have had a net loss of $80.5 million, compared to net earnings of $98.9 million in the same period in the prior year.

Passenger-driven Company BC Ferries Suffers from Pandemic

By | 2020 Newsletter week 48 | No Comments

BC Ferries released its second quarter results today for the three and six months ended September 30, 2020. COVID-19 continues to have a significant impact on the company’s operations and financial results.

  • Net earnings for Q2 of fiscal 2021 were $37.8 million, $57.2 million lower than the same quarter of the previous year.
  • Year-to-date, since April 1, 2020, net losses were $24.2 million, compared to net earnings of $107.2 million in the same period in the prior year, a decline of $131.4 million.
  • Revenue for Q2, at $247.6 million, was down $81.7 million year-over-year.
  • Revenue for the six months ended September 30, 2020 was $385.0 million, down $190.7 million over the same period in the prior year.

During the quarter, BC Ferries carried:

  • 5.5 million passengers (-29%)
  • 2.5 million vehicles (-14%)

Year-to-date, the company has carried:

  • 7.7 million passengers (-43%)
  • 3.8 million vehicles, (-28.7%)

BLUE STAR DELOS Stops Sailings to Undergo Scrubber Conversion

By | 2020 Newsletter week 45 | No Comments

November 4, 2020. Blue Star Ferries’ ropax BLUE STAR DELOS was transferred to the Perama repair zone (Dock 1) in order to undergo her scheduled scrubber conversion. The popular “blue” ship is expected to return in service in February 2021, while she will be replaced by her fleetmate BLUE STAR CHIOS.

The sisters BLUE STAR CHIOS and BLUE STAR MYCONOS will follow, undergoing a similar conversion.

Pandemic Affects BC Ferries’ Q1 Results of Fiscal 2021

By | 2020 Newsletter week 35 | No Comments

COVID-19 had a significant impact on first quarter results (April-May-June)

  • Net losses CAD 62 million (net earnings CAD 12.2 million)
  • Revenue CAD 137.4 million (CAD 246.4 million)

At the outset of the pandemic, ferry traffic dropped dramatically and was down 75 to 80% across the system in a matter of days. With the easing of travel restrictions, traffic at the end of June partially recovered and was down approximately 35% compared to this period last year.

  • -11.4% round trips 18,249.5
  • -61.5% passengers 2.2 million
  • -46.7% vehicles 1.3 million

BC Ferries is one of the entities included in the federal government’s transit funding of $540 million in response to the impact of COVID-19. This transit funding is to be matched equally by the Province for a total funding envelope of CAD 1.08 billion.

BC Ferries New ISLAND DISCOVERY Entered Service

By | 2020 Newsletter week 24 | No Comments

BC Ferries’ newest vessel, ISLAND DISCOVERY, officially commenced service on June 10 on the Texada Island – Powell River route.

ISLAND DISCOVERY is the first of a series of Damen hybrid-electric ships designed for future full electric operation. The ships are fitted with hybrid technology that bridges the gap until shore charging infrastructure and funding become available.

Her entry into BC Ferries’ fleet allows for the retirement of the 59-year old NORTH ISLAND PRINCESS.

The second vessel in the Island Class series, ISLAND AURORA, will replace QUADRA QUEEN II on the Port McNeill – Alert Bay – Sointula route next week. QUADRA QUEEN II will become a relief vessel.

Due to the COVID-19 pandemic, BC Ferries created a short video with messages from

community representatives, so people can take a virtual tour of the ship instead.

CORONAVIRUS

By | 2020 Newsletter week 13 | No Comments

BC Ferries Matches Capacity to Meet Current Demand

BC Ferries is cancelling the additional sailings scheduled in April, in response to an approximately 40% decline in traffic as a result of COVID19.

Customers with reservations on cancelled sailings on the Tsawwassen – Swartz Bay, Horseshoe Bay – Departure Bay and Horseshoe Bay – Langdale routes will be contacted by Customer Care and moved to the next available sailing.

Customers with reservations on cancelled sailings on the Tsawwassen – Southern Gulf Islands will be refunded.