Company activates option to buy clause
The Steam Packet Company has bought the cargo ship MV Arrow from the vessels owners for nine million euros.
The deal is part of a longstanding charter agreement which provided the Steam Packet with the option to purchase the vessel.
The acquisition is being financed from existing company resources.
Steam Packet Managing Director Brian Thomson said "The MV Arrow has proven to be an extremely valuable back-up for our vital Island services.
"Securing her ownership will provide continuing service security and resilience for freight traffic especially during events such as the TT, Manx Grand Prix and other peak travel periods."
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