In 1901, BYNCo set up shipyards in Whitehorse and began to build its own steamers. That same year, BYNCo began to expand its holdings by purchasing the steamer fleet of the Canadian Development Company. By 1904, BYNCo had nearly eliminated competition on the Upper Yukon River. BYNCo had very considerable influence in the Yukon, as its freight rates could determine the success of businesses in the Territory. It was also a major employer in Whitehorse. BYNCo thrived during the early twentieth century. However, as the century progressed its fortunes dwindled. The building of the highway to Dawson and Mayo made river transportation obsolete and the BYNCo's last vessel, the Klondike, ceased operation in 1955..