The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.
MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004
Make sure you know how the new tax rules work!
March 10, 2005
Canada's Bay Ferries to operate Rochester ferry
The Board of Managers of the Rochester Ferry Company has authorized a three-year agreement with Bay Ferries Limited of Charlottetown, Prince Edward Island to operate fast ferry service between Rochester and Toronto.
Rochester Ferry Company is the company set up by the City of Rochester, N.Y. to operate the ast ferry that it bought at a federal bankruptcy auction this month.
The agreement calls for Bay Ferries to be responsible for the full service operation of the vessel Spirit of Ontario 1 and all other aspects of the fast ferry service. Service is expected to resume between Rochester and Toronto this Spring.
Bay Ferries received a three-year deal--and $1.3 million annual management fee-- to run the ship between Rochester and Toronto.
Bay Ferries Limited is a wholly-owned subsidiary of NFL Limited. NFL (Northumberland Ferry Lines) has been in the ferry business since 1941 and operates a conventional ferry servce between Prince Edward Island and Nova Scotia.
Since 1996, Bay Ferries has operated seasonal high speed ferry service between Bar Harbor, Maine, and Yarmouth, Nova Scotia, utilizing The Cat. The Cat can carry up to 900 passengers and 240 cars and is billed as "the fastest car ferry in North America."
The Spirit of Ontario can carry up to 774 passengers and 238 cars.
We'll have further coverage in the next issue of FERRIES & FAST CRAFT NEWS. .