(09/21/06) JERSEY CITY ? An upcoming New York Water Taxi fee hike could signal rough seas for New Jersey water commuters.

Starting Monday, commuters will be forced to pay an extra 50 to 67 percent for their ride to and from Manhattan. Representatives of New York Water Taxi say the fee spike is the result of a deal they made with Goldman Sachs. When Goldman Sachs opened an office in Jersey City two years ago, the ferry company offered free mid-day ferry rides to make the commute easier on the investment banking firm?s employees.

However, the anticipated increase in rush hour riders never materialized. Now, ferry company officials say New York Water Taxi is losing $1.2 million a year. The fee hike is designed to help stem the flow of money loss. However, some commuters say the fee hike will force them to abandon the ferry altogether in favor of the cheaper PATH train.