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Tag: BC Ferries | Page 6 | Ferry Shipping News

Feb 28
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“BC Ferries Is On The Whole A Well-Run Company,” Says Report

By | 2019 Newsletter week 9 | No Comments

The Review of Coastal Ferry Services confirms that the coastal ferry service is a vital part of the provincial economy and critical to both those who use ferry services and for the province as a whole.

BC Ferries President and CEO Mark Collins appreciates the review concluding that “BC Ferries is on the whole a well-run company.”

The review also recognizes that “employees and managers are committed to providing a safe, reliable service for the coast and work hard at it every day of the week” and “Board of Directors take seriously its obligation to provide good strategic direction and oversight.”

BC Ferries acknowledges and appreciates the financial contribution the Province made over the past year, along with contributions from BC Ferries, to fare affordability and helping to keep fares flat and lower fares on some routes.

Feb 28
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FINANCE

By | 2019 Newsletter week 9 | No Comments

BC Ferries: Highest Number Of Vehicles Ever

BC Ferries released its third quarter results today for the fiscal year ending March 31, 2019.

  • Net loss CAD 3.7 million (14.8)
  • Average of 466 sailings per day
  • +1.7% passengers = 4.7 million (highest in 20 years)
  • +2.6% vehicles = 2.0 million (highest ever)

Due to the seasonality of ferry travel, BC Ferries generates higher net earnings in the first and second quarters – the spring and summer months – which are typically reduced by net losses in the third and fourth quarters, when fewer discretionary customers are travelling.

Last fall, BC Ferries submitted a 12-Year Capital Plan, which details plans to invest more than $3.9 billion. This will be the largest capital plan in BC Ferries’ history. The capital plan emphasizes more system capacity, operational efficiency, resiliency and travel certainty.

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Dec 06
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BC Ferries And First Peoples’ Cultural Council Reveal Indigenous Artwork For NORTHERN SEA WOLF

By | 2018 Newsletter week 49 | No Comments

Kwakiutl First Nation’s Richard Hunt and Nuxalk Nation’s Danika Naccarella designed the artwork that will adorn the NORTHERN SEA WOLF (the former Greek ferry AQUA SPIRIT).

The artwork will be displayed on the interior and exterior of the vessel for customers to view, along with profiles of the artists.

BC Ferries and community stakeholders named the NORTHERN SEA WOLF in honour of a

First Nations’ legend in which the Sea Wolf is a manifestation of the Orca. The designs depict the beauty of the majestic animal, with The Sea Wolf the symbol of family, loyalty and the protector of those travelling their waters.

Press release
Oct 18
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IN THE MEDIA

By | 2018 Newsletter week 42 | No Comments

The Challenge Of Meeting The Needs Of Ferry Users And Communities

BC Ferries President and CEO Mark Collins speaks to BC Shipping News about his background and the future of BC’s coastal ferry network.

Some topics in this very interesting interview:

  • Capacity challenges
  • Diversification of revenue.
  • Overview of the plans with the newbuildings.
  • Which fuel?
  • To build locally or internationally?
Source: BC Shipping News
Oct 11
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BC Ferries Looking For Shipyard To Build Five Vessels

By | 2018 Newsletter week 41 | No Comments

On 5 October, BC Ferries issued a Request for Expressions of Interest (RFEOI) for the procurement of five new major vessels.

  • The competitive bidding process is open to all shipyards, including consortiums.
  • Vessels to enter service in 2023.
  • To replace QUEEN OF ALBERNI, QUEEN OF NEW WESTMINSTER, QUEEN OF COWICHAN, and QUEEN OF COQUITLAM. Plus an additional vessel to address forecasted increases in traffic in the coming years, and to build resiliency in the fleet.
  • Focus on ecology.
  • After RFEOI the next step will be a Request for Pre-Qualification, followed by a Request for Proposals.
Aug 30
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BC Ferries: Record Breaking Passenger And Car Numbers; Less Money

By | 2018 Newsletter week 35 | No Comments

BC Ferries’ passenger traffic levels experienced during Q1 were the highest the company has experienced in over 20 years and the vehicle traffic levels were the highest ever recorded.

However, net earnings were only CAD 6.0 million, compared to CAD 17.3 million for the same quarter of the previous year.

  • Reasons:Operating expenses increased by 7.8% to $209.9 million as the company provided 352 additional round trips to meet the increase in demand. This resulted in an increase in labour and fuel consumption.
  • One-time reintroduction costs for the upgraded SPIRIT OF BRITISH COLUMBIA.
  • Fare reductions by 15%.
  • C. seniors’ passenger discount was increased from 50% to 100% for travel Monday to Thursday.

Revenues increased by 1.5% to CAD 229.7 million primarily as a result of

the increased traffic levels, partially offset by a decrease in the average tariff per passenger and per vehicle due to the fare reductions.

Read the press release from BC Ferries
Jun 21
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Highlights From The BC Ferries Annual Report

By | 2018 Newsletter week 25 | No Comments

BC Ferries published its annual report for the fiscal year 2018, which ends on 31 March 2018.

  • BC Ferries released its year-end results with consolidated net earnings of $59.9 million for fiscal 2018.
  • Highest passenger traffic levels in 20 years and the highest levels of vehicle traffic ever.
  • Focus on fare affordability. No increases to vehicle and passenger fares across almost all routes.
  • By the start of fiscal 2019 (April 1, 2018), the fares on almost all routes were reduced by 15%.
  • Due to current world fuel market conditions, the company will remove the fuel rebates currently in place on June 27, 2018.
  • BC Ferries provided over 174,000 sailings, 2,962 more round trips than required under the Coastal Ferry Services Contract and 1,190 more round trips compared to the prior year.
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