17 Jul 2026
3 months ago
747 views
The New Zealand Government has confirmed KiwiRail will operate two new Cook Strait rail ferries, named Kupe and Cook, arriving in 2029 with a 30-year operational plan to ensure a practical and affordable ferry service. The project, capped at $1.7 billion, saves $2.3 billion compared to previous estimates and includes commercial arrangements protecting taxpayers while supporting critical freight routes between Auckland and Christchurch. The programme also features new marine infrastructure, strict project management, and a long-term strategy to maintain rail ferry services for future generations.
16 Apr 2026
6 months ago
1136 views
The Marlborough District Council has begun consulting on funding Port Marlborough’s $110 million contribution to revenue-generating port assets in Picton, supporting new resilient ferries for road, rail, and passengers. This initiative, part of a $531 million budget for Picton works, aims to replace ferries while saving taxpayers $2.3 billion and securing long-term infrastructure for the Interislander and Bluebridge services. The proposal is designed to cost no additional ratepayer funds, with dividends from Port Marlborough benefiting the community and taxpayers funding the balance through Ferry Holdings.
19 Nov 2025
11 months ago
1189 views
The Government has secured two new Interislander ferries from Guangzhou Shipyard International under a $596 million fixed-price contract, with the total program costing less than $2 billion and saving taxpayers $2.3 billion by cutting expensive consultancy and excessive infrastructure. Funding for the infrastructure will be recovered through port fees and Interislander is expected to build reserves for future ferry replacements, operating like a normal business. The project is managed by Ferry Holdings with support from CentrePort, Port Marlborough, and KiwiRail, emphasizing fiscal discipline and minimizing disruption, while also strengthening economic ties with China.
14 Oct 2025
1 year ago
1357 views
The Government has selected Guangzhou Shipyard International to build two new ferries through Ferry Holdings Limited. Rail Minister Winston Peters highlighted GSI's expertise and capabilities as a leading shipbuilding enterprise in Southern China. Negotiations are ongoing, with details to be disclosed upon completion, including agreements with CentrePort Limited and Port Marlborough New Zealand Limited, aiming for completion in 2029 with cost-effective solutions to benefit New Zealand taxpayers.
03 Sep 2025
1 year ago
1384 views
Ferry Holdings has secured a preferred shipbuilder for two new ferries to serve passengers, road, and rail for the next 30 years, with a fixed price and completion in 2029. Rail Minister Winston Peters praised the swift procurement process and highlighted the importance of the letter of intent signed for technical negotiations. The new ferries will have specific dimensions, capacities, power, and safety features to ensure efficient and environmentally friendly transportation across the Cook Strait for the next three decades.
15 Aug 2025
1 year ago
1582 views
KiwiRail and Hyundai Mipo Dockyard have settled on a $144 million payment to cover costs incurred from the cancelled Project iReX ferries, with KiwiRail emphasizing the decision was not a reflection on Hyundai. The settlement frees up more funding for other Government projects, debunking claims that canceling the contract would cost taxpayers the full $551 million contract value. The settlement marks the end of mismanagement by the previous government, which failed to consider necessary port infrastructure, resulting in a near quadrupling of project costs before its cancellation in December 2023.
01 Jul 2025
1 year ago
2801 views
Ferry Holdings has reached agreement with CentrePort, Port Marlborough and KiwiRail on core infrastructure scope, Rail Minister Winston Peters announced today. The agreements set out the scope of physical work and equipment to be delivered by 2029 when two new ferries arrive, with port and KiwiRail agreements to be entered later this year to confirm the investment splits between Ferry Holdings and each other company and other commercial terms. “This is not our first regatta, as this no-nonsense infrastructure focus is what was supposed to happen in 2020 until poor management and a lack of oversight allowed iReX to blow out.