Shun Tak-China Travel Shipping Investments has reached an agreement to acquire two Macau-based ferry companies.
The two companies – New World First Ferry Services and New Ferry-Transporte Marítimo de Passageiros – were acquired for HK$350 million (US$57.8 million). The transaction includes acquisition of vessels and operation concessions granted by the Macau government. Shun Tak will maintain the current service, sailing and staff. Ticket fares will also remain unchanged.
Shun Tak operates under the brand TurboJET, with its cross-border ferry network servicing major ports within the Pearl River Delta, including Hong Kong, Macau, Shenzhen Fu Yong, Shenzhen Shekou and Guangzhou Nansha. Its flagship route runs between Hong Kong Maritime Ferry Terminal (Sheung Wan) and Macau.
Shun Tak believes Macau will continue to grow as it becomes a global tourism destination. Moreover, with the strong economic performance by both Macau and the Pearl River Delta region, demand for transportation is expected to continue to increase. The acquisition is intended to allow the company to capitalise on such developments.