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Post by ferryfast admin on Oct 17, 2007 15:47:47 GMT -5
If ferries are sold, SeaStreak will try to get replacements
Posted by the Asbury Park Press on 10/16/07
BY MICHAEL L. DIAMOND BUSINESS WRITER www.app.com/
SeaStreak might sell its four catamarans to Trinidad & Tobago, but the company would try to find replacement vessels to travel from Atlantic Highlands and Highlands to New York, the company's general manager said today.
Sea Containers Ltd., the Bermuda-based parent company of SeaStreak that is in Chapter 11 bankruptcy, recognizes that the routes are profitable and should be able to continue, general manager David Stafford said.
"Even if the vessels are sold in a separate transaction to the sale of the business itself, then we will do everything we can to bring in suitable replacement vessels to continue operating the route, not only because it is important to so many people, but because it is also a profitable route and therefore more attractive as a going concern,'' Stafford said.
The ferry service, which carries nearly 2,000 people a day each way, has been the subject of speculation since Trinidad & Tobago newspapers reported last month that the Caribbean country reached an agreement to buy the catamarans for its own ferry service.
Sea Containers said it received an offer from Trinidad & Tobago, but it hasn't reached a final agreement. Since then, local elected leaders have tried to get assurances the ferry service would continue uninterrupted.
Michael L. Diamond: mdiamond@app.com or (732) 643-4038.
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