US EditionFederal bank loaning $1B for BC Ferries to buy Chinese-made ships
- BC Ferries secured a $1 billion low-interest loan from the Canada Infrastructure Bank in March 2025 to purchase four new ferries from a Chinese state-owned shipyard.
- The procurement followed a five-year process during which no B.C. shipyards bid due to limited domestic capacity and financial challenges, according to Premier David Eby.
- Federal Transport Minister Chrystia Freeland issued a dismaying June 16 letter demanding assurances no federal funds would support the purchase and highlighting security and tariff concerns.
- B.C. Ferries CEO Nicolas Jimenez expressed surprise at Freeland's letter and emphasized the loan reduces interest costs by about $650 million and supports fleet renewal.
- The deal sparked controversy over domestic shipbuilding capacity and federal support equity, with calls to strengthen Canadian industry amid urgent ferry replacements.
63 Articles
63 Articles
Federal bank is loaning $1B for BC Ferries to buy Chinese-made ships
A federal Crown corporation is loaning BC Ferries $1 billion to help buy four Chinese-made ships, a purchase that federal Transport Minister Chrystia Freeland recently said was dismaying and should involve no federal funds.
Federal bank loaning $1B for BC Ferries to buy Chinese-made ships
A federal Crown corporation is loaning BC Ferries $1 billion to help buy four Chinese-made ferries, a purchase that federal transport minister Chrystia Freeland recently said was dismaying and should involve no federal funds.
The Infrastructure Bank of Canada (BIC) is lending $1 billion to BC Ferries for the purchase of four Chinese-made vessels. The Federal Minister of Transport, Chrystia Freeland, had recently described this purchase as a consternation and should not be funded by the federal government.
B.C. Ferries receives $1B federal bank loan for Chinese-made ships
B.C. Ferries has secured a $1 billion loan by a federal Crown corporation to help obtain four Chinese-made ships, a purchase that federal Transport Minister Chrystia Freeland recently said should not involve federal funds.
Federal Infrastructure Bank Providing $1B Loan to BC Ferries to Buy Vessels From Chinese Shipyard
The Canada Infrastructure Bank is providing a $1 billion loan to BC Ferries to purchase four new vessels from a Chinese state-owned shipyard, a move that has sparked concern among federal and provincial politicians alike. The Canada Infrastructure Bank (CIB), a federal Crown corporation, made the announcement on June 26, saying the below-market-rate financing provided to BC Ferries will help reduce future fare increases and support the moderniza…
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