Private equity is why. There's no appetite to invest in it when there's easier money to be made elsewhere. There is crazy profit to be had in military contracts and little effective oversight vs....
Months later, under new ownership by one of the world’s largest private equity firms and flush with federal military contracts, Vigor expressed concern about accepting risk in its first contract to build the new hybrid-electric boats. Ultimately, Washington State Ferries cut off negotiations when Vigor said the first ferry would cost more than $400 million — more than double the state’s estimate.
Private equity is why. There's no appetite to invest in it when there's easier money to be made elsewhere. There is crazy profit to be had in military contracts and little effective oversight vs. a relatively liberal government that might actually hold them accountable.
This is why our infrastructure is aging so poorly -- operators of privatized infrastructure will never value the externality of the public benefit, and the government's ability to enforce or promote that public benefit is basically nonexistent.
archive link background on the ferry system for people unfamiliar: for perspective, 40k passengers per weekday, if it were a commuter rail system, would be half the size of Boston's MBTA commuter...
Washington State Ferries (WSF) is a government agency that operates automobile and passenger ferry service in the U.S. state of Washington as part of the Washington State Department of Transportation. It runs ten routes serving 20 terminals located around Puget Sound and in the San Juan Islands, designated as part of the state highway system. The agency maintains the largest fleet of ferries in the United States at 21 vessels. In 2022, the system had a ridership of 17,375,400, or about 39,200 per weekday as of the first quarter of 2023. As of 2016, it was the largest ferry operator in the United States and the second-largest vehicular ferry system in the world.
for perspective, 40k passengers per weekday, if it were a commuter rail system, would be half the size of Boston's MBTA commuter rail network, or more than double the size of the Caltrain system in the Bay Area.
the annual ridership is about equal to the MBTA rail system, and 4 times larger than Caltrain, reflecting how much use the ferries get on the weekends for people travelling for leisure and not just commuting. I have family on the Olympic Peninsula, and taking a ferry is the easiest way to visit them from Seattle. on weekends during the summer there's routinely a 2 or 3 hour wait for car drivers.
from the article:
In early 2023, just nine of the state’s 21 ferries were considered in good shape. With vessels aging into their 40s and 50s — or, in the Tilikum’s case, 60s — the mechanical whack-a-mole has been building for years. Since 2017, the system has been averaging around 500 canceled trips a year due to unplanned maintenance, according to the state Department of Transportation. Between 2018 and 2022, the backlog of ferry preservation needs rose nearly 30%, from $209 million to $270 million. Three boats are nearly ready for retirement, but are being kept on life support to the tune of tens of millions of dollars a year.
Inter-island ferry service is down in the San Juan islands because: ferry runs aground in San Juan Islands, out of service for repairs. I don't live there, but I do rely on WSF and service has...
Inter-island ferry service is down in the San Juan islands because: ferry runs aground in San Juan Islands, out of service for repairs. I don't live there, but I do rely on WSF and service has been been getting steadily worse. With that said, I don't know how I feel about a shipyard from the gulf states building our ferries. I wish we could get international bids.
Private equity is why. There's no appetite to invest in it when there's easier money to be made elsewhere. There is crazy profit to be had in military contracts and little effective oversight vs. a relatively liberal government that might actually hold them accountable.
This is why our infrastructure is aging so poorly -- operators of privatized infrastructure will never value the externality of the public benefit, and the government's ability to enforce or promote that public benefit is basically nonexistent.
archive link
background on the ferry system for people unfamiliar:
for perspective, 40k passengers per weekday, if it were a commuter rail system, would be half the size of Boston's MBTA commuter rail network, or more than double the size of the Caltrain system in the Bay Area.
the annual ridership is about equal to the MBTA rail system, and 4 times larger than Caltrain, reflecting how much use the ferries get on the weekends for people travelling for leisure and not just commuting. I have family on the Olympic Peninsula, and taking a ferry is the easiest way to visit them from Seattle. on weekends during the summer there's routinely a 2 or 3 hour wait for car drivers.
from the article:
Inter-island ferry service is down in the San Juan islands because: ferry runs aground in San Juan Islands, out of service for repairs. I don't live there, but I do rely on WSF and service has been been getting steadily worse. With that said, I don't know how I feel about a shipyard from the gulf states building our ferries. I wish we could get international bids.
The last time I went to Orcas Island, the ferry we were on was so old -- it kind of added to the overall 'getting away from it all' aesthetic.
I love the old ferries! There's something about being on them that always makes me feel good.