Ferry News Archive
Deal 'agreed' for Swansea ferry
Date: 03 Apr 2009 00:00 Source: BBC News WalesA co-operative hoping to restart the Swansea to Cork ferry has agreed the basis of a deal to buy a new ship.
It needs to be ratified by creditors of the Finnish firm that used to own it. The service stopped three years ago.
The consortium, which has raised over £2.5m from pledges by small investors, said it was "very optimistic" the sale would be approved.
Details of the deal will be outlined at the first shareholders meeting in Ireland next week.
The Swansea Cork service last sailed in 2006 and backers say since then the economies on both sides of the Irish Sea have suffered.
The consortium has been talks for the last month over securing the replacement ship - the Julia.
It is a 340-cabin ferry that could carry 1,400 passengers.
A spokesman said: "This deal now has to be ratified by the creditors of Stella Line, the owners of the ship.
"We are very optimistic that they will approve the deal and that we can then go ahead and purchase the ship."
The rest of the funds would come from bank loans, industry sources and grants.
The shareholders meeting is being held at the West Cork Hotel in Skibbereen on Tuesday.
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