BC Ferries’ fiscal 2023 year, which ended March 31, tallied 21.6M passengers (up 21% from fiscal 2022) and 9.4M vehicles (up 11%). That vehicle total is the highest BC Ferries has tallied since it began in 1960. Its latest report attributes these jumps to the removal of prior years’ COVID-driven travel restrictions. 

The last full pre-pandemic fiscal year (2019) had 22.3M passengers and 8.9M vehicles. Numbers had fallen drastically by 2021, the first full COVID / travel restrictions year, to 13.1M and 6.7M. Those rose in 2022 (17.9M and 8.5M), but remained far below pre-COVID. 

But 2023’s overall vehicle total exceeds even the pre-pandemic peak, and the passenger total is close behind 2019. The report also suggests the cheaper “saver” fares first introduced two years ago on less-busy sailings, such as early mornings and late nights, have contributed to increasing traffic and reducing sailing waits. BC’s population has also grown by about 300K since 2019.

BC Ferries said it can’t predict what traffic levels will be like in fiscal 2024, but hopes the traffic increase continues. It lists economic conditions, transportation costs, travellers’ disposable income, and weather as factors that can affect traffic levels. In March, BC Ferries predicted in a supplementary update that overall traffic levels would decrease up to 3% in early 2024 if a mild recession were to occur, as had been forecast by six of Canada’s major banks. 

Traffic isn’t the only thing that rose—costs jumped too‍

In fiscal 2023, operating costs were up 14.2% to just under a billion dollars ($991.5M). BC Ferries cites higher labour costs, increased fuel prices, and maintenance expenses. 

Revenue was $1.04B, up $77M (8%) from 2022 or $170M (20%) when not counting the $102M in Safe Restart Funding that BC Ferries got in 2022. That funding made the difference between a $68M loss and a $34M earning in 2022; 2023 broke close to even with a $2M loss.

BC Ferries has cut or delayed millions in capital spending and seeks to add revenue in fiscal 2024 with a fare price change. It applied to make the 2024-28 term’s annual increase cap 9.2% rather than 2.3%. The BC Ferry Commission gave this change preliminary approval in March, but has indicated its final decision this fall will approve a lower cap due to the province earmarking extra funding to limit fare jumps. 

The ferries also face staffing problems, with 20% of managerial staff turning over. The latest report flags the “high level” of cancelled sailings—1.6% of total sailings, up from 1.2%—which it attributes to short-staffing. There is an ongoing long-term global mariner shortage, whose effect on BC Ferries Capital Daily covered last spring. 

BC Ferries fired its former CEO, Mark Collins, early in fiscal 2023 amid scrutiny on the number of cancellations, which can have especially far-reaching effects on small island communities. Crew and vessel shortages were also a major factor in Washington Ferries' decision not to restart the Sidney-Anacortes international ferry until 2030.

Faster check-ins planned for Swartz Bay and other terminals‍

BC Ferries has also applied to the commissioner for $25M in improvement projects, in two stages over four years, at Swartz Bay, Tsawwassen, Duke Point, Departure Bay, and Horseshoe Bay. This “Major Terminal Efficiency” overhaul intends to speed up wait times at terminals, with express check-in for those with reservations and subway-style technology such as enhanced kiosks, fare gates, and boarding-pass validation for foot passengers.

Foot travel changes will come to Tsawwassen by fall 2024, along with vehicle express lanes at Duke Point, while changes to Swartz Bay and others will not be done until fall 2027.  

Ocean travel to BC, not just within it, is also expected to hit record levels this year with 330 cruise ships and 850,000 passengers expected to reach Ogden Point in the current tourist season. 

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