was not owned by the Government of Canada and was solely the responsibility of CN and later Marine Atlantic. Following government-mandated service cutbacks to Marine Atlantic in the mid-1990s, Bay Ferries was formed as a subsidiary of Northumberland Ferries Limited and successfully bid for the right to operate the Yarmouth-Bar Harbor route. Upon taking control of the operation in 1997, Bay Ferries continued to operate the MV Bluenose that year, after which it was sold. Bay Ferries entered into a purchase agreement in late 1997 with Incat in Hobart, Australia, for the Incat 046, a wave-piercing catamaran ferry operating on the Melbourne-Devonport service by TT-line) under the brand name "Devil Cat." Upon acquisition of the vessel in 1998, Bay Ferries began using the term "The Cat" for its Yarmouth-Bar Harbor service in logos on the vessel and in Bay Ferries marketing material. "The Cat" is merely the marketing name for the ferry service operated by Bay Ferries, and not the name of the vessel, which remains HSC INCAT 046. The introduction of HSC INCAT 046 to the Gulf of Maine met with great publicity and interest among Canadian and American media as this was the first, and currently the fastest (41 knots), large-capacity high-speed ferry in North America, cutting the trip time between the two ports from six hours on a conventional vessel to less than three hours. In 2002, Incat 046 was sold and The Cat replaced it. The high speed ferry operated between the ports in 2 hours and 30 minutes, compared with a crossing time of over 6 hours using a conventional ferry vessel. The service was seasonal and did not operate during the late fall, winter and early spring when severe ocean storms could inhibit crossings, although the conventional vessels were year-round services for many years. The Government of Canada maintains ownership of the ferry terminals in Yarmouth (through Transport Canada) and Bar Harbor (through Marine Atlantic Inc.) but has leased the management and operating rights to Bay Ferries. In spring 2005 rival Gulf of Maine ferry operator Scotia Prince Cruises announced that it was cancelling its Portland, Maine-Yarmouth service offered by a conventional vessel, M/S Scotia Prince, as a result of toxic mould problems at its ferry terminal in Portland, the old Portland Marine Terminal. The city of Portland was in the process of constructing a replacement ferry terminal, but it assumed that financial difficulties