Talks begin on Maine group's Nova Scotia ferry bid
Canadian officials have started negotiations with a Maine-based consortium to restart a ferry service between Portland and Yarmouth, Nova Scotia.
The Chronicle Herald reported provincial officials announced the beginning of negotiations with STM Quest Inc. on Tuesday. The joint company is comprised of the Eliot-based Quest Navigation, ST Marine Ltd. out of Singapore and the Miami-based International Shipping Partners.
At stake is $21 million that the province has committed to investing over the next seven years to restart the ferry service as early as the spring of 2014.
The decision to enter negotiations comes after the province turned down the group of previous bidders, saying that both an earlier proposal from Quest and a plan from the Baltimore-based Applied Physics Corp. fell short of the minimum requirements.
In a press release, the province said if negotiations are not successful with STM Quest, it will move on to talks with the next qualified bidder. Three companies submitted bids to restart the service in the latest round.
Following the announcement, Gov. Paul LePage reiterated his support of Quest, for which he said the state government will allocate marketing resources, help to secure a $5 million line of credit and assist with capital needs on Portland’s waterfront.
The Eliot-based company says it plans to lease the 162-cabin cruise ferry named the Nova Star from ST Marine Ltd. for $165 million to run the new service.
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