A CONSORTIUM of 300 shareholders has voted unanimously to ratify a deal that will see the Cork-Swansea ferry route reinstated.
Members of the Munster-based co-operative approved a deal to purchase a €7.8 million vessel from Finland, the MS Julia.
The members also approved the establishment of a company, Fastnet Line, to run the reinstated ferry service.
Approval from the Finnish courts is required in order to seal the deal, which should see the ferry up and running from June, in time for the summer tourist season.
A board of management consisting of nine members was appointed at Tuesday night’s meeting of shareholders in the West Cork Hotel, Skibbereen.
Conor Buckley, chairman of West Cork Tourism, was nominated to chair the co-operative, and Paul O’Brien, the co-ordinator of the campaign to date, was appointed temporary manager.
A further seven board members were appointed to represent the shareholders in geographic terms, covering various regions in Munster.
Mr Buckley, who spearheaded the campaign, said he was overwhelmed by the positivity that greeted the deal.
“I am delighted and overwhelmed by the support of the shareholders,” he said.
“We had a unanimous ratification of this deal and every hand in the room was raised in support.
“We are both relieved and excited that it has come this far and we hope now that the deal will move seamlessly through the Finnish courts and that the ferry will be up and running come June,” he said.
The MS Julia, a 28-year-old Finnish vessel recently refitted, will undergo some minor alterations to comply with Irish maritime law.
At a length of 155m, the ferry proposed for the new service has previously serviced routes between Sweden, Denmark and Norway.
The vessel can carry up to 1,800 passengers and almost 500 cars.
The Munster co-operative of buyers will be expected to provide €3 million of the €7.8 million purchase price, with the remainder expected to come from a loan issued by a bank that has a vested interest in the boat.
The deal is likely to spark further investment in the co-operative from the UK, as investors in Wales take note of the successful drive to reinstate the ferry service.
Cork Chamber of Commerce chief executive Conor Healy said the Cork-Swansea ferry route will reopen a key access point to the southwest of Ireland.
“Access is key for this region in terms of developing tourism and there are huge benefits to be gained from the return of the ferry service,” Mr Healy said.
“West Cork is likely to do very well in terms of visitor numbers, but the whole region can benefit from this and I would urge all businesses to get behind the new ferry service and recognise the work that’s been done to have it reinstated,” he added.
Fastnet Line is still open to contributions and interested parties can invest at a cost of €10,000 per share.
Investments or pledges from €1,000 up to €10,000 can be made and a new online donation system (www.bringbacktheswanseacorkferry.com) welcomes smaller amounts of cash from supporters of the campaign.