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  • 3 months ago
TT-Line says "human error" is to blame for the latest hit to the project, which has seen the ferry operator fork out $9 million for hull strengthening and fender rebuild.

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00:00A spot of smooth sailing for an otherwise rough ride.
00:07A builder's been found for Devonport's new Spirit of Tasmania terminal building.
00:12We understand the importance of the timeframe and our crew is fully committed to deliver this world class facility.
00:19Delays to infrastructure and cost blowouts.
00:23Troubles with the vessel replacement program have been well documented.
00:27The latest works needed on the hulls and fenders in case of extreme weather.
00:32And it will be the rebuilding of those three fenders and some strengthening to the starboard side hull of the ship.
00:42Coming at a cost of $9 million and some red faces with the wrong specifications sent off for the fenders.
00:50It was clearly human error by TT Line in 2023.
00:55TT Line's borrowing limit was recently raised from just over $1 billion to $1.4 billion.
01:02But its finances may keep sinking until it can sell the old ships.
01:07We don't want to run too close to the wind. In terms of our financial position we need a buffer.
01:11Prompting the government to deliver financial assistance in next week's state budget.
01:16We will be increasing an injection of $75 million for TT Line.
01:22Give them assurance of being a strong financial position going forward.
01:26Well this shouldn't have happened. This is a project that has gone badly wrong.
01:30And now it's impacting Tasmanians because the bailout money could have been used for health or housing.
01:36Spirit Five is set to leave Finland at the end of this week and head to the port of Leith in Scotland.
01:41Where its sister ship spent seven months.
01:44TT Line says that's the most cost effective option due to fewer crew being needed on board.
01:50But Spirit Four's stay still ended up costing $4.3 million.
01:56Spirit Five begins its journey to Tasmania in early to mid next year.
02:01With hopes of carrying passengers by October.
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