Annual Survey of Water Carriers

Expenses rose just about as fast as revenues in 2003 for the 104 for-hire marine carriers in Canada.

These carriers earned an income of $113 million on revenues of $2.5 billion. Revenues were up 6.8% over 2002, while expenses increased by 6.0%. Almost all of this revenue (97%) was earned conducting activities related to transportation.

Transportation expenses accounted for 95% of expenses for these for-hire carriers. Wages and salaries accounted for nearly one-quarter of these costs.

These for-hire carriers recorded $1.8 billion in liabilities against assets of $2.6 billion in 2003. Their ratio of total debt to equity was virtually unchanged from a year earlier at 2.5.

Meanwhile, government carriers had revenues of $761 million and expenditures of $769 million. The primary source of revenue, about 88%, was derived from transportation activity. Transportation-related expenses accounted for 97% of total expenses.

Wages and salaries represented almost half (47%) of the costs associated with transportation expenditures. Government carriers recorded $1.0 billion in assets in both 2002 and 2003.

Note: The government sector differs significantly from the for-hire sector in terms of the availability of financial data. Many government carriers only report partial financial data and apply accounting rules that differ from the for-hire sector. Therefore, the information about government carriers should be used with caution, particularly in comparisons with the for-hire section.

Definitions, data sources and methods: survey number 2753.

For more information, or to enquire about concepts, methods or data quality of this release, contact Ron Chrétien (1-866-500-8400; fax: 613-951-0009; transportationstatistics@statcan.gc.ca), Transportation Division.