Mandate:
Marine Atlantic Inc. (MAI) is a Crown Corporation that fulfills Canada’s constitutional obligation to support freight and passenger ferry service between North Sydney, Nova Scotia (NS), and Port aux Basques, Newfoundland and Labrador (NL). MAI also offers a seasonal service between North Sydney and Argentia, NL.
MAI owns three ferry terminals in North Sydney and Port aux Basques and Argentia respectively, and it operates a fleet of four ice-class vessels, namely the MV Atlantic Vision, MV Blue Puttees, the MV Highlanders, and the MV Leif Ericson. The vessels are configured to accommodate both commercial freight and travelers.
In a typical year, MAI derives revenues of over $100 million from its activities, and receives approximately $145 million from the federal government to cover its operating and capital shortfalls.
The corporation’s revenue dropped by about 25% in fiscal year 2020/21 due to the pandemic. However, it has recovered and its 2022/23 revenues are expected to surpass the $110 million forecast.
Profile:
President and Chief Executive Officer: Murray Hupman
Chairperson of the Board of Directors: Gary O’Brien
Board of Directors: 10 directors (including the Chief Executive Officer)
Size: 1,140 employees at peak employment in 2022/22