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Marine Log

April 2, 2008

New England Fast Ferry acquires SeaStreak

SeaStreak, the Atlantic Highlands,N.J. based commuter ferry service that brings thousands of people to and from Manhattan every day, has been acquired by New England Fast Ferry. The deal closed on March 31st. The company had been owned by Sea Containers Limited.

James A. Barker, the new President of SeaStreak, said his priorities include safety, preventative maintenance to keep the boats running on schedule and improved customer communication. "I want to reassure the many commuters who use our boats from our Highlands and Atlantic Highlands terminals that we are committed to frequent and reliable service. We do not want anyone to worry about their transportation to and from work every day. SeaStreak remains absolutely committed to ensuring that the boats will run according to schedule."

Additional improvements being planned for the future include:

  • Upgrades for passenger safety to ramps, docks and transfer platforms

  • Enhanced and cleaner restrooms

  • Seating repairs and upgrades

  • Installation of new flat screens

  • Paint jobs for the boats

Another priority the company is looking at is how to keep fuel costs under control. SeaStreak presently burns more than 2 million gallons of low sulfur diesel fuel a year which represents approximately 50% of its total cost.Low sulfur fuel has increased over one dollar a gallon in recent months and may necessitate a price adjustment.

New England Fast Ferry will be transferring one of its New Bedford/Martha's Vineyard Ferries to SeaStreak during the fall, winter and spring months to work the off peak runs as another way to save fuel.

Barker added that he is impressed with the Jersey Shore area and New England Fast Ferry is committed to continuing SeaStreak's premier ferry service. "New England Fast Ferry is a family-run business. I've spent more than 20 years in marine operations. I look forward to working with the SeaStreak staff and professional mariners in this excitingendeavor. We have the best boats on the East Coast and the best people and we look forward to providing outstandingservices to the public. We are committed to our riders and hope that the riding public will respond with their continued support."

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