SeaStreak, the ferry line that zips commuters to Wall Street and midtown Manhattan from docks in Highlands and Atlantic Highlands, appears to have found a white knight.
The four-catamaran line’s parent company, Sea Containers America Inc., confirmed today that it has agreed to sell SeaStreak to a sub of New England Fast Ferry, which carries passengers from Rhode Island and Massachusetts and Rhode Island to Martha’s Vineyard.
Terms of the deal were not disclosed. The Two River Times broke the story on the sale a week ago.
In a press release, Bermuda-registered Sea Containers Ltd., which has been in chapter 11 of the U.S. bankruptcy code since October, 2006, said the court overseeing the insolvency must approve the sale terms.
The service’s routes are expected to continue unchanged, according to the Asbury Park Press. At one point last year, Sea Containers came close to a deal to sell the boats to the island nation of Trinidad and Tobago.
From the announcement:
David Stafford, SeaStreak’s General Manager, said: “My staff and I all appreciate the importance of our ferry service to Monmouth County and we are delighted to have at last found a suitable new owner. It has been a long process and we are grateful for the ongoing support of the riders.
“We see the sale as a positive development for SeaStreak, the local communities we serve and the loyal riders we transport every day back and forth to Manhattan. New England Fast Ferries is an experienced operator with a long-term interest in the company. We believe that we have found a fitting home for SeaStreak, one which will ensure a successful future.”
