Bay Ferries has released the final numbers of the Cat Ferry for the 2016 season.
Not surprisingly they are well below what the Nova Scotia government hoped for a season-end target
of approximately 60,000.
In a statement released today the company says the high-speed Yarmouth to Portland ferry carried 35,551 passengers
and 13,064 vehicles.
Bay Ferries CEO Mark MacDonald says passenger numbers should grow as the service gains traction.
The company also says it anticipates that it will meet the financial projections provided to the Province of Nova Scotia
with respect to costs of start-up, vessel refit/rebuild, and first year operation to March 31, 2017.
The company also says motorcoach business volume is soft but has the potential to grow if, and when, that industry perceives
there is stability and long term predictability to the business.
Here is the complete statement from Bay Ferries:
BAY FERRIES’ COMMENTARY ON NOVA SCOTIA/MAINE FERRY SERVICE
OCTOBER 6, 2016
Bay Ferries Limited anticipates that it will meet the financial projections provided to the Province of Nova Scotia with respect to costs of start-up, vessel refit/rebuild, and first year operation to March 31, 2017, which formed the basis of our contract with the Province of Nova Scotia.
Because the fiscal year is not complete until March 31, 2017, unanticipated expenditures could arise; however, based on present estimates, the original projection will be met and no additional contribution in 2016-2017 should be required.
Vessel Operations
The 2016 season finished with our final scheduled round trip on October 1, 2016, the 100th round trip of the 2016 season.
There were five scheduled non-service days in the season and four days lost due to adverse weather and sea conditions (two during Tropical Storm Hermine).
There were no service delays or disruptions due to mechanical issues.
Total automobiles carried during 2016 operating season: 13,064
Total passengers carried during the 2016 operating season: 35,551
Bay Ferries Limited made no projection as to passenger and vehicle traffic volumes for the 2016 season.
Commentary
Bay Ferries offers the following observations:
• We are very pleased with the performance of the vessel and the service. We are pleased to have contributed to a successful tourism season in Nova Scotia. We see good potential for growth in 2017 and future years as the service stabilizes and awareness of the service increases in the United States.
• Customer and community reaction has been very positive.
• We are also very pleased with the impact of the service on the local economy in Southwest Nova Scotia.
We have supplied the ship from Yarmouth, maintained the ship from Yarmouth, accommodated our crew in Yarmouth, and, with a combination of our own staff, our stevedores, our onboard services contractor Sip@Sea, and others, have created approximately 70 jobs in the Yarmouth area. Every dollar that could be spent in Nova Scotia has been spent in Nova Scotia.
• Passenger volumes are lower than anticipated by some, but do not surprise us. These should grow as the service gains traction.
• Motorcoach business volume is soft but has the potential to grow if, and when, that industry perceives there is stability and long term predictability to the business.
• Achieving overall financial projections is possible because of a combination of:
o Overall cautious/conservative approach to budget
o Prudent energy price and fuel consumption assumptions
o Prudent currency exchange assumptions
o Careful expenditure management (example: adjusting crew level to correspond with anticipated
passenger loads)
o Generally taking measures to reduce operating costs where safe and appropriate to do so (example:
earlier departure of vessel enabling more economical operating speeds) o Inclusion of appropriate contingency in the budget.
Statement of Mark MacDonald, Chairman and Chief Executive Officer of Bay Ferries Limited
“First and foremost, thank you to our customers for letting us help you travel between Nova Scotia and Maine.
We also want to thank our dedicated employees, and the many companies and partners, including municipalities and government agencies, with whom we work closely, for your hard work to make this season a success.
Thank you also to our many friends around Nova Scotia without whose support it would not have been possible to have this ferry service this year.
Finally, thank you to the Province of Nova Scotia and the people of Nova Scotia for placing your trust in our
