Fast craft replacement to cost ferry firm £120m

The Manannan fast craft vessel is nearly 30 years old

The Isle of Man's ferry operator has committed to spend up to £120m on a replacement fast craft vessel within the next five years.

The Isle of Man Steam Packet Company's Manannan ferry, which operates summer services to and from Liverpool each year, is almost 30 years old.

Managing director Brian Thomson said discussions would take place to to make sure the firm secured "the vessel that best suits the island's needs" fort he future.

The government owned monopoly ferry service operator was currently in commercial negotiations with shipyards over the replacement and plans were also in place to hold a public consultation, he said.

Further details about the plans were revealed at the annual Government Conference, held at the Comis Hotel in Santon.

The company said cost of the new vessel would be met from the company's profits and taking on additional debt "at zero cost to the Isle of Man taxpayer".

Brian Thomson said negotiations over the new vessel were ongoing

Mr Thomson said the company would be paying £267m for replacing vessels over the next 25 years - a figure which includes the company's flagship vessel Manxman, which started operating in August 2023.

Mr Thomson said the "assumption" was that the lifespan of a vessel was going to be 25 years.

He said he could not say what the replacement might look like at this stage as "when we have a consultation it's going to be real and we're actually going to listen to it".

However, he said the replacement would have to "comply with existing and future emissions regulations", which posed "a challenge".

It would also need to be capable of winter sailings to both Liverpool and Heysham, whereas the Manannan currently has a limited operational window.

Mr Thomson said he also wanted the new vessel to be capable of deputising for freight services.

Further investments by the firm designed to "drive future growth" included the creation of a leadership team and additional refurbishment works taking place on the Ben My Chree, he added.