B.C. Ferries Reports Q1 profit of $76.2m

Friday, August 18, 2006
British Columbia Ferry Services Inc. reported a first-quarter profit of $76.2m due to insurance proceeds of $67.9m in connection with the sinking of the Queen of the North ferry. The ferry operator said Thursday that excluding the one-time gain, it would have earned $14.9 million on revenue of $146.3 million. That compared to a profit of $14.4 million on revenue of $145.2 million a year ago. The company said the money from the insurance payment will be used to buy a replacement ship. The Queen of the North sank March 22 after striking Gil Island in Wright Sound in 430 metres of water. Two people remain missing and are presumed dead after the late-night incident in which 99 people were safely removed from the stricken vessel. Two lawsuits are pending as a result of the sinking. B.C. Ferries provides year-round ferry transportation services to the West Coast on 25 routes, with 34 vessels and 47 terminals. Source: 570 News
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

White House: Iran Talks Deadline Could Slip

The White House said Tuesday's deadline for negotiators in Vienna to come to a final, firm agreement on Iran's nuclear program could slip. When asked if President

SUNY Maritime College to Host e-Navigation Underway 2015

The State University of New York Maritime College will host the e-Navigation Underway 2015 – North America conference from September 28 to 30 on its Throggs Neck, N.

Tideland Introduced New Navigation Aids at Seawork

Tideland Signal Corporation (Tideland) introduced a number of new innovative aids to navigation (AtoN) products at Seawork 2015, including SB-1800, the newest member

Finance

Navis N4 TOS Open in Liverpool Terminal

Peel Ports, owners and operators of the Port of Liverpool, has achieved a major milestone in its multi-million investment program to transform the port into Europe’s

AkzoNobel’s Carbon Credits Methodology Wins Award

AkzoNobel’s landmark carbon credits methodology for the shipping industry has won the Best Offsetting Project award in the 2015 Voluntary Carbon Market Rankings.

FSL Trust Inks Tanker Contracts

FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust announced new time charter agreements for FSL Shanghai, FSL Hamburg and FSL Singapore.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1592 sec (6 req/sec)