Jan. 31, 2003 – Vandalism to its only boat, Calypso I, coupled with construction work at the Port Authority-owned Gallows Bay pier has put Mermaid Fast Ferries out of business, owner Chris Elliott said on Friday.
"We were losing $60,000 a month," he said.
The company, which provided transportation between Gallows Bay on St. Croix and the St. Thomas waterfront, stopped operating on Thursday.
Elliott said he hopes to get back in business and will definitely run for big holiday weekends, but until then, the big blue and white boat is parked.
He said the closing has put 28 people out of work and that he had been operating with a payroll of $500,000 a year.
The company started operations last September. Elliott said things went fine for two months, before the 356-passenger Calypso I headed into dry dock. By the time the boat had gone back into service, the competing 600-passenger Salacia had returned to the Virgin Islands for the winter season.
The Salacia, owned by Boston Harbor Cruises, ran during the winter of 2001-2002. Elliott said he had not expected the company to return to the Virgin Islands this season.
He said Calypso I carried more passengers in September and October than both boats did together when they were in competition. He attributes the dropoff to the construction work at Gallows Bay Pier.
Elliott also said that vandals on three occasions attacked Calypso I's external steering column, causing interruptions in service. He had the damage repaired twice, he said, but when vandals hit for a third time 10 days ago, he threw in the anchor.
Less than two weeks ago, he cut service from daily to four days a week, Friday through Monday, citing financial concerns. (See the St. Croix Source report "Mermaid Ferries cuts service to 4 days a week".)
Unlike the Salacia, Elliott said, Calypso I was planned to operate between St. Croix and St. Thomas year 'round.
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