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Tag: BC Ferries | Page 4 | Ferry Shipping News

Nov 21
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VIDEO

By | 2019 Newsletter week 47 | No Comments

BC Ferries’ Hybrid Electric Island Class Are on Their Way to BC

BC Ferries’ first two hybrid electric Island Class ferries are on their way to British Columbia. The ships departed Constanta, Romania on November 20, 2019, on the semi-submersible vessel SUN RISE, for the 10,305 nautical mile journey to their new home in B.C.

Damen Shipyards Group is responsible for the transport of the ships.

The Transatlantic voyage will take approximately 40 to 45 days, depending on weather.

Econowind System is Being Tested on the DFDS Ship Lysbris Seaways

eConowind is a Dutch based company, fully dedicated to wind-assisted ship propulsion.

Watch the video
Nov 07
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TOP STORY

By | 2019 Newsletter week 45 | No Comments

Damen Shipyards To Build Four More Hybrid Electric Vessels

BC Ferries continues to roll out its Clean Futures Plan and has awarded Damen Shipyards Group contracts to build four more battery electric-hybrid Island Class vessels scheduled to go into service in 2022.

In the spring of 2017, BC Ferries awarded Damen contracts to build two “first in class” of these battery electric-hybrid vessels. These vessels have successfully completed sea trials and will arrive in Victoria, B.C. by January 2020.

With the extension of the partnership between BC Ferries and Damen now confirmed, Damen will extend its agreement with Point Hope Shipyards of Victoria, B.C. to provide technical and warranty support for the new vessels with their local staff.

The Island Class is a battery-powered ferry. When electric charging technology matures to make electricity available in the quantities required, BC Ferries will operate these new ships as all-electric ferries, using clean energy. In the interim, these ships will use an on board low-sulphur diesel hybrid system.

Press release
Aug 16
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BC Ferries Reports Back On Engagement For New Major Vessels

By | 2019 Newsletter week 33 | No Comments

BC Ferries will be building at least four new ferries to replace four existing vessels (see also in financial news). The company started a ‘conversation’ with the customers, with more than 9,600 people who responded online and 1,700 taking part in sessions on board the ships and in community workshops.

The first phase of engagement focused on nine topic areas, including: accessibility, pedestrians and cyclists, pet spaces, outdoor spaces, food and beverage, family spaces, new amenities, technology, and additional thoughts and key considerations like sustainability and future flexibility to meet changing needs.

Feedback included, for example, requests for more space and amenities for pet owners, more diversity in fresh food choices, improved areas for bicycle storage and quiet areas away from technology and noise, among other topics.

Read more
Aug 16
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FERRY FINANCE

By | 2019 Newsletter week 33 | No Comments

BC Ferries released its Q1 results for the three months ended June 30.

Passenger and vehicle traffic levels are the highest the company has ever experienced in a Q1.

Net earnings for Q1, 2020 were CAD 12.2 million (6.0 million)

In this quarter, BC Ferries invested CAD 26 million as part of its 3.9 billion 12-Year Capital Plan that is focused on replacing ships and upgrading terminals. “We need to replace half of our fleet over the next 15 years as we incorporate clean technology and increase capacity,” said Mark Collins, BC Ferries’ President and CEO.

Jun 27
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Attica Group Is in the Process of Concluding a 5-Year Bond Loan

By | 2019 Newsletter week 26 | No Comments

According to a Euro2day article (in Greek), the Attica Group is in the process of concluding a 5-year bond loan from the domestic market within July. The goal is to raise funds from EUR 100 to 170 million. The 100 million of that loan will be used to repay existing bank loans (pp. Fortress’s loans were repaid at the end of last year) and therefore high-value pre-payments will be removed. Another EUR 25 million will be made available for investments to ship scrubbers in order to meet the new EU stricter standards. If additional funds are raised (up to EUR 45 million), they will be used for general business purposes.

Jun 27
0

Successful Fiscal Year for BC Ferries

By | 2019 Newsletter week 26 | No Comments

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.

Download the Management’s Discussion & Analysis of Financial Condition and Financial Performance