Condor Ferries is in advanced talks with Jersey and Guernsey’s governments about investing in a new vessel.
According to its CEO, Paul Luxon, the company can push forward with the investment now that its sale to a consortium of Columbia Threadneedle Investments and Brittany Ferries is complete.
‘For the last two years, I’ve been very keen on pressing the button on improving the vessels in our fleet. But any new vessel needs to be agreed on in conjunction with Jersey and Guernsey’s economic development departments and we have been in conversation with them over the last 12 months,’ Mr Luxon said.
‘We are in very advanced discussions around the islands’ preferences for a new vessel and with our new shareholders, it means we are able to accelerate and progress these discussions. Hopefully, we can implement some decisions in the next few months.’
Condor Ferries, which was put up for sale by Macquarie Infrastructure and Real Assets (MIRA) in April 2019, currently has four ships in its fleet. Any new vessel will have to be custom built to ensure compatibility with the islands’ harbours.
‘You’re talking about £50 million plus to build a new vessel and that’s a big investment, so we have to be sure to make the right decision.’
Condor Ferries carries around one million passengers each year, as well as 200,000 vehicles and 900,000 freight lane metres between Jersey, Guernsey, the UK and Saint Malo.
Mr Luxon said: ‘As a company, Condor’s immediate focus is to continue preparing for the season. We fully recognise we play a vital role in supporting the visitor economies of Jersey and Guernsey alongside our commitment, for over 70 years, to providing essential freight services and travel options for islanders.’
