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Post by cascade on Aug 12, 2005 10:38:41 GMT -8
Here is a bit from Lloyd's on the 2 year review in price fixing.
Friday, August 12, 2005
Channel Ferry Operators Cleared
From Lloyd’s List (www.lloydslist.com)
THE European Commission has closed the book on its two-year investigation into alleged price-fixing by Channel ferry operators, with no further action to be taken.
The probe began in September 2003 when teams of investigators turned up unannounced at the offices of ferry companies in at least four countries. In Britain, the offices of P&O, Stena and Eurotunnel were all raided and large quantities of paperwork and data seized.
But of course - this will never happen in BC - as there isn't any other Ferry operators working on the Coast. Sorry I forgot - Harbourlynx.....and of course SeaSpan - but then again -
Why hasn't anyone pick up that SeaSpan floated in an IPO in New York and made $600M to pay for the remaining 13 container ships.
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Post by Low Light Mike on Aug 12, 2005 13:38:53 GMT -8
re the Seaspan IPO: I think the reason that no one on this board picked up on this, is that no one else is interested in that level of discussion.
I think the "ferry-finance" topic is yours alone on this board-community. I understand a bit, but I'm not in the industry, so it's not relevant to me. Just like a lot of the mechanical topics that members such as HL-Teen talk about......I have no understanding of the topic, so I have nothing relevant to contribute to the discussion.
I know that since I'm a BC taxpayer, I should be informed.....but you only have so much time in a day.....besides, that's what we have the NDP for...to keep BCF honest (as much as possible).
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Post by BrianWilliams on Aug 14, 2005 21:49:05 GMT -8
I do think we should pay attention to marine transport events outside BC.
Perhaps we don't need to know everything about fuel-hedging, insurance ratings and European competition, but these give us some insight into how our BCF operates.
Our ferries and their destinations are not exportable, but money sure is. The new BCF may be a good strategy. Understanding how a quasi-private marine service survives will help us, as ferry fans and taxpayers.
On the most basic level - safety: MV Estonia killed 90% of her passengers in 1994 on a routine crossing. Estline was a new private-public partnership with poor oversight.
Could that happen in BC? Not likely, but we had better pay attention.
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Post by BrianWilliams on Aug 14, 2005 22:07:36 GMT -8
My real love: a sturdy ship on a rainy BC day, comin' to take me home --  |
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Post by Political Incorrectness on Aug 14, 2005 22:36:25 GMT -8
I like that pic of the capilano brian nice picture
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Post by cascade on Aug 15, 2005 7:42:18 GMT -8
Brian,
Europe has had it share of Ferry accidents & deaths. Given that we are about 380M people and have some where around 275 ferry - operators - each under a number of different rules and governments - I think the record is not that bad. We learn very fast from any mishaps.
Of course the vessel you talk about - that was very sad - but the company was sold - as no one would use them. Here we have open competition - which means if your crap - then you go out of business. Where as in BC there is no other Ferry Operator - so you have no choice - even if they are crap and there safety record is a load of sh*t. The government can only protect so much - it is then down to the people who are placed in charge to run the service.
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Post by cascade on Aug 15, 2005 7:54:56 GMT -8
In reply to "Mr. Horn" -
The SeaSpan IPO on the New York market should be of interest to people in BC for a number of reasons.
1. They are in partnership with the Chinese and the West Coast will be a major drop point for cheap goods - so yes there could be job's. (I guess if your a trucker or train person)
2. They now have the funds to pay for the remaining 13 vessels - which means that if the shipyards don't do anything or start to lose money - they can be closed and turned into container ports - which is what he did in Southern LA - when he purchased a shipyard there.
I think maybe the turning point will be around the contract to build the next 3 new vessels that BCFS want - if they don't then I think one of there Vancouver Shipyards will be closed and turned into a container port. Lost of job's yes - BUT more importantly will be lost of skills that go with the jobs.
And you may ask where do I think they would place this new container Port to service and handle the increase traffic on there 20 new (7 already built) - why where they built the Fast Cats - well you did - with your tax money... so I would start taking a small interest in what SeaSpan does. They are not Canadians - but Americans and have no History of shipping. Look at what they did with mining and Shopping malls - now on to Ports and ships... watch this space as they say....
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