Monday, December 30, 2013
ST Engg: will invest in a 10% stake in newly set up Nova Star Cruises; partner Quest Navigation will hold the remaining stake. Based in the Canadian province of Nova Scotia, Nova Star will operate a cruise ferry service between Yarmouth (Nova Scotia, Canada) and Portland (Maine, USA). It will bareboat charter from ST Marine the Ropax (roll-on/roll-off passsenger) vessel for the service. The charter has commenced in late Dec '13 and the contract is for 3 yrs with options to extend up to 7 yrs.