SpeedFerries seeks investment partner

Lorna Strickland

Print Article E-Mail Article E-Mail Author

The UK-based cross-Channel operator expresses hopes of joint venture offers. UK cross-Channel fast ferry operator SpeedFerries is in talks with three other shipping firms with hopes of establishing a joint venture. SpeedFerries confirmed to RavenFox.com that plans were being drawn up for a $10m investment programme, which the company hopes will attract a bank, shipping firm or fellow ferry operator to invest in SpeedFerries.

Spokesperson Marianne Illum told RavenFox.com that the operator was “not in trouble”, stressing that it was on target to break even this year, for the first time since its launch in 2004. According to Illum the company is aiming to strengthen operations through association with another operator with experience in the market and will continue alone if joint-venture offers are not tabled early next year.

See DFNI December 15, out now, for an in-depth report on consolidation in the European ferry market.