Cabinet has, on the recommendation of NIDCO, renewed the contract for the Cabo Star vessel for an additional two years.

The announcement was made by Works and Transport Minister, Rohan Sinanan, at this afternoon’s Post Cabinet media briefing, who said government was able to negotiate a new lease agreement of US$16,000 per day for the vessel, down from the initial US$21,000 in 2017.

Meanwhile, government is expecting the delivery of the first of two new passenger vessels to service the inter-island sea bridge by November. Minister Sinanan, who said the second vessel is expected to be delivered by the end of the first quarter in 2021.

The vessels, the Buccoo Reef and APT James, are being built in Australia and are being completed within budget, according to the Minister.