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Has the NYC Ferry Righted Its Ship?

DeFi Daily News by DeFi Daily News
May 24, 2026
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The NYC Ferry has its fair share of fans, thanks in part to social media accounts filled with memes and trendy videos featuring boat crew. The posts intend to promote the fun of a ferry ride for both commuters and leisure riders.

But critics point out that it’s an expensive way to get around, especially since fares don’t cover much of the operating costs. In 2022, an audit by the New York City Comptroller found that the city’s Economic Development Corporation, which runs the ferry, had misreported funds and needed a financial turnaround.

The EDC has defended its spending, but the audit was a wakeup call. Since then, the NYC Ferry has a new, more favorable contract with its operator. It raised single ticket prices to $4.50 to cover more costs. And last year it said it saw record ridership—7.4 million passengers—while dropping its subsidy-per-rider down to its lowest yet.

Learn more: New York City’s Hottest Transit Mode Is a Boat – https://bloom.bg/4dYs42V
The city-run fleet of ferryboats is seeing a surge of riders — and social media fame — as it tries to navigate NYC’s challenging commuting landscape.

Watch more mini documentaries from Bloomberg: https://www.youtube.com/playlist?list=PLGaYlBJIOoa_EzzMpticURNR29AiQi10v

Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.

#NYC #Ferry #Transit

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Tags: BloombergbusinessEconomyferryferry businessferry comebackfinanceFundingGovernmentnew yorkNew York Citynew york city transitnew york ferryNewsNYCnyc ferrynyc subwaynyc transitPoliticsreturn of the nyc ferryRightedshipTransiTus
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