Canada Extends Marine Atlantic Ferry Lease
- Business & Finance
Canada’s Ministry of Transport and ferry operator Marine Atlantic have renewed the lease agreement for the MV Atlantic Vision until November 2017, allowing existing ferry service routes to connect Newfoundland and Labrador with the rest of the country.
The Government of Canada has invested approximately CAD 40 million (USD 32m) for this term renewal. This funding is in addition to the five-year, CAD 521 million (USD 418m) investment, announced in Budget 2010 to help renew Marine Atlantic’s fleet, shore-based infrastructure and business processes.
Marine Atlantic operates a four vessel fleet: the MV Atlantic Vision, the MV Blue Puttees, the MV Highlanders, and the MV Leif Ericson.
The lease for the MV Blue Puttees and the MV Highlanders, running until the end of 2015, has yet to be extended.
“The renewal of the MV Atlantic Vision lease term is very good news for all the passengers and businesses that use the ferry services between Newfoundland and Nova Scotia. The Government of Canada is investing in Marine Atlantic’s vessels as they play an important role in connecting the communities, businesses and economies of Nova Scotia, and Newfoundland and Labrador,” said Lisa Raitt, Canada’s Minister of Transport.