Condor wants security to buy £70m. ships
Tuesday 18th June 2013, 12:00PM BST.
CONDOR Ferries will need new ships on its UK and St Malo routes by 2020, its chief executive said yesterday.
But the cost of new vessels, likely to be in the region of £70m. if built from new, is going to be a real challenge for the ferry operator and its owners to meet.
James Fulford told yesterday’s Chamber of Commerce lunch that the firm would need greater certainty from the States of both islands to ensure that the infrastructure fund which owns it would stand a chance of seeing a return on such a considerable investment.
Condor has a licence to operate the islands-UK route until the end of 2018, but very little in terms of protection, Mr Fulford, pictured, said.
Mr Fulford said that he was not expecting a subsidy from government, but was hoping that some kind of ‘partnership’ agreement with the States would be found.