PORTLAND, Maine - The province of Nova Scotia says it is placing more financial controls on Nova Star Cruises, and providing some additional funds for the Portland-to-Yarmouth ferry service. The move comes after the ferry burned through a total of $25 million (Canadian dollars) in subsidy money from the province. Nova Scotia had planned to invest $21 million, but over a seven-year period.
The province has agreed to give ferry operators another $5 million in Canadian dollars. Nova Star Cruises will be required to provide regular reports on cash flow and bookings, along with other information.
Meanwhile, a spokeswoman for Gov. Paul LePage told the Bangor Daily News that the governor plans to introduce legislation to provide the company with a $5 million line of credit.
The resumed Portland-to-Yarmouth service attracted just 59,000 paying passengers, barely more than half of what Nova Star Cruises had hoped, and far less than the number of passengers carried in the heyday of the Scotia Prince.
But the ferry did contribute to a revival of tourism in Nova Scotia. Today's Portland Press Herald reports Nova Scotia saw a 17 percent increase in New England tourists this year, and the increase was 26 percent in July and 31 percent in August, the months the Nova Star carried the largest numbers of passengers.
