From the BC Ferries website:
“About our Company
In April 2003, BC Ferries was transformed from a Crown corporation into an independent, commercial organization under the Company Act. BC Ferries is governed by an independent Board of Directors appointed by the B.C. Ferry Authority.
About our Governance
B.C. Ferry Authority is a no-share-capital corporation created under the Coastal Ferry Act (British Columbia). It is the owner of the single issued voting share of British Columbia Ferry Services Inc. ("BC Ferries"), a Company incorporated in British Columbia, which is subject to the Business Corporations Act (British Columbia).“
Weird, it doesn't operate like a non-profit. Well, I guess I'll have to amend my "profit center" comment to "generate capital for reinvestment to maximize additional capital for additional future investment and bonuses for management..." maybe?