Total cost of Manxman ferry expected to be £80m

The Manxman arrived in Manx waters in July

The total cost of the Isle of Man's new flagship ferry is expected to be £80m, the treasury minister has confirmed.

Dr Alex Allinson said an additional £2m on top of the planned £78m budget to have it built had been spent on getting the Manxman "into service".

But he told Tynwald members final adjustments to the figure were "likely" as part of the Isle of Man Steam Packet Company's year-end processes.

The vessel, constructed at the Hyundai Mipo Dockyard in South Korea, arrived in Manx waters in July and made its maiden voyage in August.

The government-owned ferry firm's directors' report for 2022 stated the project was forecast to be "complete within its estimated budget of £78m", but bosses had not confirmed a final figure for any additional items needed once it had been delivered.

Dr Allinson confirmed the extra funds had been needed for trials at ports, evacuation system training, cutlery, crockery, bedding and other equipment needed for passengers.

When questioned by Juan Watterson SHK on the costs of engineers from South Korea currently trying to address "vibration problems" being experienced on the vessel, Dr Allinson said he believed the work would be covered by the agreed warranty.

Repayments

Dr Allinson confirmed the company had an 18-month warranty on the hull and main machinery, a five-year extended guarantee on paintwork and an additional six-month warranty on generators.

He said he did not "anticipate any extra costs being passed" on to balance the books of the ferry firm.

During the sitting, the treasury minister also confirmed the operator had repaid £5.2m in loans and £2.6m in interest in connection to the ferry in 2023.

New requirements relating to staffing on the vessel are currently at the centre of an ongoing industrial dispute between the company and its officers.

The ferry firm is in negotiations with the union Nautilus over new contracts that would see staff live aboard the vessel rather than go home during rest periods while on shift.