The only article that got this correct. See MauiJim's comments to the article below:
http://www.mauinews.com/page/content.detail/id/507353.html
"Superferry counts 125,000th traveler"
‘A significant milestone’ for service earns family free trips, other gifts
By HARRY EAGAR, Staff Writer
POSTED: August 20, 2008
"...She's not the only one. Her father, Calvin, was counted as the 125,000th passenger the Alakai has carried between islands...The ferry has now completed 486 voyages - 488 by the time your read this...The Alakai has transported more than 34,000 vehicles, of which 2,800 were commercial."
Member Comments
MauiJim said:
08-21-08 2:49 PM
OK I just did some quick math on their numbers: 125,000 pax at about $50 a head = $6 mil in revenue. 30k cars at $60 = 1.8 mil revenue. 20% more for commercial is another 1.5 mil. Just over $9 mil total. The ferry burns 1900 gph, 3h per trip, $4 per gallon...that comes to an appalling $20,000 each way in fuel costs!!! Times 486 trips = 10 mil in fuel!!! based on their own numbers they haven't even made fuel costs. The only people benefiting from the superferry are the oil companies!
Mauibrad said:
08-21-08 3:29 PM
MauiJim wrote, "...Just over $9 mil total [revenue]...Times 486 trips = 10 mil in fuel [expenses]!!! based on their own numbers they haven't even made fuel costs [in total]. The only people benefiting from the superferry are the oil companies!" That's right, Jim. You pegged it. My compliments on your analysis. Aloha, Brad
Mauibrad said:
08-21-08 2:44 PM
Harry, Thanks for clarifying the numbers. All of the reports yesterday said "400" transits. Yours more correctly mentions 486. Divided into the 125,000 equals an average of 257 per voyage which is much more believable than the 313 per voyage. Still, agree with MauiJim that there is little significance to the total 125,000 other than as another marketing stunt by HSF. BTW, the much more efficient Hawaiian Air transports 125,000 people in less than a month. Aloha, Brad
MauiJim said:
08-21-08 2:32 PM
What is so significant about that number? What a stupid press release! Can't believe this is newsworthy. They are still losing money by the truckload!
Aloha, Brad
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I wrote a more precise letter to the editor of the Maui News regarding the Ferry numbers:
I read with a chuckle the latest press release by the Superferry. What is so significant about passenger number 125,000? Are they going to have a party at 150, 175, etc.?
Here are the numbers that really matter: 125,000 x about $50 = $6.25 million in revenue. 34,000 cars x $60 = $2.04m for a total of $8.3m. Add on 20% more for commercial ($1.65m) and you come up with a total gross revenue of just under $10 million.
The Superferry burns 1900 gallons of fuel per hour and each trip takes three hours. At $4 per gallon, it costs $22,800 per trip. Multiply that by 486 trips and you come up with a horrifying $11 million in fuel costs alone!
You can see they have not even made enough revenue to cover fuel expenses! What about loan payments, payroll, maintenance, insurance, advertising, legal fees, etc.?
The real question is: will they make it to one million passengers before they go bankrupt? It looks to me like they should be planning their escape rather than throwing the next t-shirt party.
The Maui News has been reasonably unbiased, in my opinion, giving equal time to both sides of this saga. Let's see if they print it. I won't bother wasting my time sending it to the Honolulu Advertiser; they would never print it.
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