RANGATIRA FOR SALE

Press, Volume CXIV, Issue 33602, 2 August 1974, Page 1

RANGATIRA FOR SALE

The I nion Steam Ship Company, Ltd, had “feelers” out for the sale of the interisland ferry Rangatira. said the company’s chairman (Sir Peter Abeles) last evening, the Press Association reported.

However, the ship would continue on the Wellington-Lyttelton run for as long as the Government wanted, he said. The “Australian Financial Review,” commenting yesterday on the loss on the operation of the Rangatira, said: “So far as the I nion Company is concerned, it merely wants to he quit of this ship. Telexes in brokers’ offices round the world yesterday carried the word that the ferry was for sale.” The Union Company, said Sir Peter yesterday, had given the Government an assurance that the Rangatira would stay in service until it no longer'wanted her. The ship, which entered service in March, 1972. has been running at a loss which the Government is now underwriting at Sim a quarter.

Sir Peter, who was talking after a meeting on Tasman freight rates with three .Ministers, said that the Rangatira would not be sold as long as she was still required for the inter-island service. The suggestion that the vessel would he taken off the service in March next was up to the Government. The Rangatira (9387 tons) was built for the Union Company to replace the Wahine, which was wrecked in Wellington Harbour in April, 1968.