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Displaying items by tag: Finance Wales

#FERRY NEWS - The operators of the Celtic Sea ferry route between Cork-Swansea need to secure over €1m in investment today in order to save the company after being thrown a €300,000 funding lifeline by Cork's local authorities.

Cork City Council agreed last night to invest €100,000 in the Fastnet Line, bringing its total investment in the company to €365,000.

It followed a 90-minute behind closed doors presentation by Fastnet Line's acting chief executive officer, Pádraic O'Kane. He is due to meet Enterprise Ireland this morning to discuss further investment. He declined to discuss the amount involved, but it is understood to be in the region of €400,000.

Finance Wales will await the outcome of those talks before it agrees to pump up to €800,000 in to the firm. For more about this story in today's Examiner click HERE

Published in Ferry

About RC44

The RC44 is a light displacement, high performance one-design racing yacht competing in the 44Cup, a five-stop international racing tour. Co-designed by five-time America’s Cup winner Russell Coutts with naval architect Andrej Justin, the RC44 boats are strictly identical in terms of construction, shape of hull, appendages and weight/weight distribution, as well as a 50-50 split between amateurs and professionals in each eight-person crew. With everything, from the keel to the tip of the mast, made entirely from carbon, and with a powerful sail plan, the RC44 is rapid downwind, commanding upwind and performs exceptionally in both light winds and heavier breezes. The RC44’s innovative and technical design present an exciting new hybrid sailing challenge, with the crews expected to hike like a sports boat and grind as you would on a keelboat.

At a Glance - 44Cup 2023 Calendar

  • 1 - 5 March - 44Cup Oman, Muscat

  • 28 June - 2 July - 44Cup Marstrand, Sweden

  • 9 - 13 August - 44Cup Cowes, UK

  • 18 - 22 October - 44Cup Alcaidesa Marina, Gibraltar Straight

  • 22 - 26 November - 44Cup Calero Marinas, Canary Islands

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