Spirit of Tasmania ferries sail after years of delays
Two new Spirit of Tasmania ferries departed Geelong Saturday night for their maiden crossing after a $717 million cost blowout.
Two new Spirit of Tasmania ferries set sail Saturday night on their maiden crossing to Tasmania. The larger vessels can carry 400 extra passengers and 60 per cent more vehicles than the ships they replace.
The project suffered a $717 million cost overrun caused by COVID-19, global conflict, and government delays. A $506 million taxpayer bailout was delivered in 2026.
State operator TT-Line faces debt forecast to peak at $1.1 billion this financial year. Premier Jeremy Rockliff said the vessels will boost tourism and support freight operators.
- $717 million
- Cost overrun
- $714 million
- Original contract
- $506 million
- Taxpayer bailout 2026
- $1.1 billion this financial year
- TT-Line debt peak
Why it mattersThe ferries improve capacity for visitors and freight, but the massive cost overrun means public debt for decades.
AustraliaTasmanians now have better ferry access for tourism and freight, though taxpayers will service the debt through 2052.
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