Fast ferry scandal

In addition to major delays and cost overruns, the ferries never fully met their original specifications, and only operated briefly in a reduced capacity, before being auctioned off at a substantial loss by the subsequently elected BC Liberal Party government.

The vessels were to be built by private shipyards under the overview of a new provincial Crown corporation to be called Catamaran Ferries International (CFI).

A major impetus for the project was to have BC Ferries spend locally some of the billions that needed to be spent on new ships.

The improvement promised was to deliver more frequent service (travel time reduced by 30 minutes), with smaller-capacity ships (250 cars vs. 365).

Perhaps more important than the need for a more efficient ferry system was the NDP government's desire to rebuild and collect taxes from the shipbuilding industry of British Columbia.

The construction of three dual-hulled 122.5 m catamarans represented a very large leap of faith by the government in British Columbia shipyards.

A subsequent election virtually eliminated the New Democratic Party from the legislature, and Gordon Campbell of the BC Liberals auctioned off the PacifiCat fleet on March 24, 2003, for $19.4 million ($6.5 million/vessel) to Washington Marine Group.

Further controversy erupted when it was revealed that the same company, which is a prominent financial backer of the Liberal Party, had offered $60 million for the vessels prior to the auction, on the condition that BC would then rent the ferries.

When questioned, representatives of WMG indicated that they are actively searching for suitable applications for the Fast Ferries and they would not rule out such a service.

[5][6] In January 2024, the ferries were listed for sale on Facebook Marketplace by an Egyptian company that was planning to scrap them if they went unsold.