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Federal bank loaning $1B for BC Ferries to buy Chinese-made ships
BRITISH COLUMBIA, CANADA, JUN 26 – The Canada Infrastructure Bank’s $1 billion low-interest loan will help BC Ferries replace aging vessels with four hybrid ferries, saving about $650 million in interest costs, officials said.
- 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.
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Should the Canada Infrastructure Bank lend BC Ferries $1 billion 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.
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.
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