BC Ferries Restructures Its Financials

Thursday, March 30, 2000
As part of its financial restructuring package, Canadian-based BC Ferries will sell off its three PacifiCats ferries in order to remove its $1.1 billion debt. A decision was reached to write down the vessels by a total of $240 million. Catamaran Ferries International (CFI), a wholly-owned subsidiary of BC Ferries, will have its assets sold off later this year, proceeding the turning over of the third PacifiCat to its owner (BC Ferries). The company's board of directors suggested the sale of CFI's assets as the most cost-effective method of action.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

WCI Applauds Increased USACE Funding

Today WCI applauded the leadership of Senate Appropriations Committee Chairman Thad Cochran (R-MS) and Senate Energy & Water Development (E&WD) Appropriations Subcommittee

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

MPC Honors Crowley for Tank Vessel Safety

Crowley Maritime Corporation’s petroleum services division has once again been honored by Marathon Petroleum Company (MPC) with its annual Elite Vessel Award, which

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Sonar
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: 0.1226 sec (8 req/sec)