In June, BC Ferries assigned LMG Marin as design agent for its new major vessels © LMG Marin

BC Ferries record the highest ever first quarter for vehicle traffic

FinanceRevenues for the three months ending 30 June 2022 increased USD 35.7 million compared to the same period in the prior year, primarily as a result of higher traffic volumes and net retail sales, partially offset by lower applied Safe Restart Funding. Excluding Safe Restart Funding, revenues increased USD 93.2 million compared to the same period in the prior year. Net earnings for the first quarter were USD 7.9 million compared to USD 4.7 million in the same period the previous year.

In the first three months, passenger and vehicle traffic increased 74% and 42% respectively, compared to the same period in the prior year. This quarter marked the highest ever first quarter for vehicle traffic. When compared to the same period in fiscal 2020, a pre-COVID period, vehicle traffic is 3.8% higher while passenger traffic is 6.3% lower.

Operating expenses in the quarter were USD 242.1 million, an increase of USD 31.3 million compared to the same period in 2021. This increase is mainly due to an increased number of sailings, resulting higher labour costs and fuel consumption, as well as higher fuel prices.

Full report https://www.bcferries.com/news-releases/record-first-quarter-vehicle-ferry-traffic-supports-first-quarter-net-income-gains

LMG Marin assigned design agent for BC Ferries new major vessels https://www.shippax.com/en/news/lmg-marin-assigned-design-agent-for-bc-ferries-new-major-vessels.aspx

Aug 19 2022