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SeaLink Travel Group Expands Sydney Harbour Fleet

Monday 13 January 2014

SeaLink Travel Group today announced the acquisition of another vessel to boost its Sydney Harbour operations and fulfill recently won new ferry contracts. The new purchase follows the contract wins by SeaLink’s wholly owned business, Captain Cook Cruises.

The contracts include transporting convention attendees to the recently opened temporary facilities at Glebe Island (a three year agreement), passenger transfers for the Biennale of Sydney art festival and ferry charters for Harbour City Ferries (Sydney Ferries).

The luxury 24m fast vessel, the Freedom Sovereign, has been built to high specifications and currently has the capacity to carry up to 200 passengers.

The vessel, which is being funded using debt finance, cost $3.06 million. After its arrival in Sydney last Friday the Freedom Sovereign is being modified to accommodate up to 250 people. The ferry will be ready to begin operations by the end of this week.

SeaLink Travel Group Managing Director, Mr Jeff Ellison said “the modern luxury vessel is the latest addition to our expanding fleet and adds to the recently delivered vessel, Elizabeth Cook, which was christened in Sydney Harbour in November”

“Two additional vessels currently under construction in Hobart are due for delivery to Sydney in May and June this year.”

SeaLink’s Sydney fleet will climb to 14 vessels once all the newly constructed vessels are delivered.

In addition to the contract work, the vessel will provide additional passenger capacity to Captain Cook Cruises’ popular Hop On Hop Off service, as well as bolstering charter capacity.

Mr Ellison said “We plan to add Manly as an additional destination to the existing 8-stop Hop On Hop Off service.”

“We believe there is substantial demand for this service, and the Freedom Sovereign and the newly constructed vessels will bring us a step closer to being able to offer this to the public”

It is expected the Freedom Sovereign will make a positive contribution to earnings in the current financial year.
SeaLink is increasing its investment in its fleet and tourism at a time when Australia is seeing strong growth in international visitors.

SeaLink listed on the Australian Stock Exchange in October 2013 raising an additional $16.5m.

For more information please call: Carla Schaefer, Investor Relations, SeaLink Travel Group 08 8202 8619 or 0409 101 188

#Announcement #Invest #Sydney