Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Ferry Service Not Viable Says The Interisland Line

A proposed Wellington to Nelson ferry service would run at a financial loss, The Interisland Line announced today.

The decision follows an investigation by The Interisland Line.

“The idea of a ferry link between Wellington and Nelson is worth investigating,” said Thomas Davis, Group General Manager, The Interisland Line. “A Nelson service would complement our existing services to Picton. And all credit must go to Nelson Councillor Eric Davy for raising the opportunity for us to look at the possibility.

“But, having investigated the potential market for such a service and weighed this against the costs involved in running a vessel between the two ports, the figures just don’t stack up,” said Mr Davis.

The study concluded that under current market volumes, a direct Wellington to Nelson link would optimistically only attract approximately 10% of The Interisland Line’s passengers.

“Basically the fuel and operational costs of running a fast craft would be far greater that than any revenue generated,” said Mr Davis.

The feasibility of using a conventional ferry was also investigated, but with the slower crossing time the journey would take almost seven hours. This means it would be quicker for passengers to opt for the current option of a three-hour crossing time to Picton, followed by a two-hour drive.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news