Ferry firm the Isle of Man Steam Packet made a profit of £9.3m in the year that it was acquired by the Manx government.

But operating profits writes IOMToday, have fallen slightly.

Accounts for the Isle of Man Steam Packet Company Group Ltd for the year ending December 31, 2018, will be laid before this week’s Tynwald sitting.

They show profits for the year attributable to equity owners at £9,332,364 compared to £8,421,874 in 2017.

But operating profit, at £10,470,595, was down slightly from £10,813,574 the previous year.

The group was acquired by the Treasury on May 24 last year for a total of £124.7m, represented by debt of £75.9m and equity of £48.8m.

For more here on the accounts of the company. 

The Manx government will be required to guarantee the Isle of Man Steam Packet’s loans when it builds its new ferries.

Under the terms of the sea services agreement, the company must provide two new ships, with the first due to be in service in 2022.

In a Treasury report, due to be presented to Tynwald (Manx Parliament) on the refinancing of the £76m the company owes the taxpayer, it is also revealed that a government guarantee on the loans for new boats will be required.

The section of the report titled ’Additional Company Debt’ details the necessity for new ships and that ’it will require borrowing’.

For more the IOMToday reports here.  

IOMToday writes that arm’s-length Manx government-owned ferry operations such as the Isle of Man Steam Packet could become subject to Freedom of Information laws.

Minister for Policy and Reform Chris Thomas says that transparency when public money is involved is important, but must be balanced against commercial confidentiality.

The issue of arm’s-length companies and FoI requests was highlighted when the Positive Action Group submitted a request in relation to the Steam Packet which was rejected.

The PAG asked the government’s Department of Infrastructure for ’figures for the carbon emissions of the Steam Packet fleet (for both the Manannan and the Ben-my-Chree individually) per kilometre, per mile or per journey’.

However, this was rejected as the Department of Infrastructure does not hold that information.

The DoI said in its response: ’You may already be aware that the Isle of Man Steam Packet Company is not subject to Freedom of Information, although they may be open to a dialogue on the subject if you approach them direct.’

In response to this, Mr Thomas told the Isle of Man Examiner that he personally thinks that FoI might need to be ’tailored for arm’s-length operations, in several variants for each of the types of public bodies that currently exist or might come to exist’.

The Manx government bought the Steam Packet last year for £124 million and to read more on the FoI related story click here. 

#ferries - The ferry Ben-My-Chree operated by the Isle of Man Steam Packet has been confirmed by the company of its return to Manx waters yesterday.

Manx Radio reports the ferry's arrival (in Douglas) follows what the operator called  "successful regulatory overhaul" at Cammell Laird in Birkenhead.

In a post on social media, staff said they are "pleased to welcome her back" and "look forward to her returning to scheduled services" tomorrow (Thursday). 

To see details on sailings in full, click here. 

#ferries - The Isle of Man Steam Packet Company's main ferry, the ropax Ben-my-Chree arrived on Merseyside today to undergo an annual regulatory overhaul. 

The work on the 12,000 gross tonnage vehicle ferry with capacity for 630 passengers is to take place at Cammell Laird, the shiprepairer and shipbuilder located in Birkenhead.

The ferry entered the dry-dock at the marine engineering facility on the Wirral Peninsula for one week and is scheduled to return to service on Thursday 2nd May.

In the meantime fast craft Manannan will operate the 'Ben's passenger services on the Douglas-Heysham/Liverpool routes during this period, as per the timetable published last autumn. The MV Arrow, which the Steam Packet Company currently has on charter, will provide freight services.

During the overhaul, Manannan will depart Douglas for Heysham at 08:00 and for Liverpool at 15:30 each day, with the return sailings departing Heysham at 12:00 and Liverpool at 19:15.

A replacement coach service will be provided at Heysham to transfer foot passengers to and from Lancaster railway station.

#ferrries - The Manx Parliament is to receive proposals ahead of the summer recess.

The future finances of the Isle of Man Steam Packet Company reports Manx Radio are expected to be considered by the parliament (Tynwald) ahead of the summer recess.

Treasury Minister Alfred Cannan confirmed at this week's sitting of the House of Keys that the structure of the sea services operator's finances is currently undergoing a review.

Following a question from Ramsey MHK Lawrie Hooper, Mr Cannan revealed the proposals should be on the July order paper once the review has been completed.

The Manx Government purchased the company last year and recently approved the Heads of Terms on a new sea services agreement.

See previous story on a political party's call for public to buy shares in the nationalised island ferry operator. 

#ferries - The Isle of Man infrastructure minister reports Manx Radio, has pledged to make the findings of the Steam Packet consultation available to the public - in full.

Ray Harmer recently appeared on the radio station's Perspective programme to discuss government's acquisition of the company, which he says has been ongoing since 2016.

Douglas East MHK Chris Robertshaw has been critical of Treasury and the Department of Infrastructure throughout the process, arguing there's been a lack of transparency.

Mr Harmer says full results of the consultation 'can' be available soon.

To listen to his comments click the link to a podcast here.

#ferries- Terms of a new Isle of Man sea services deal which could see foot passenger fares frozen and a ferry replaced has been approved by Tynwald the Manx Parliament.

As BBC News reports, the proposed 25-year deal with the Isle of Man Steam Packet Company will give "significantly greater" control, the Department of Infrastructure said.

It includes plans to replace the Ben-my-Chree ferry by the end of 2021 and refurbish the catamaran Manannan.

The government said the final version of the deal will be published in May.

The Steam Packet Company was bought by the government in 2018, but is being run at "arm's length" from the administration.

More on the story can be read by clicking here.

#ferries -  Ben-My-Chree, the only year-round ferry operating Isle of Man services has achieved a reliability record of more than 97% over the past 13 months.

According to the Isle of Man Steam Packet, during 2018 and up to January of this year, the ropax has completed 1,321 sailings. This involved the conventional ferry travelling approximately 88,500 miles with a technical reliability record of 97.17%.

The ship's main engines accumulated more than 10,800 running hours.

Ben-my-Chree chiefly operates the Douglas-Heysham route in addition to seasonal crossings to Ireland and weekend services to Birkenhead, England during the winter months. Afloat adds this service is scheduled to end next month, though sailings out of Liverpool, served by fastferry Manannan commence on 29 March and throughout the summer months. 

#ferry - Ferry crossings by the Isle of Man Steam Packet Company reports EnergyFM, are being forced to change sailing times to Heysham, this week because of increased silting in the north-west English port. 

The company says the sailing time changes are necessary to work around the water depths available and to allow sailing crews to maintain work and rest patterns.

Fastferry craft Manannan will operate two sailings tomorrow, in place of conventional ferry Ben-my-Chree.

The revised schedule is as follows, by consulting directly the ferry operator's website.