Singapore: Singapore Technologies Engineering’s (ST Engineering) marine arm, Singapore Technologies Marine (ST Marine) announced today that it has entered into an agreement with Quest Navigation, to invest in a 10% stake in newly set up Nova Star Cruises (Nova Star) with Quest Navigation owning the remaining stake.
Incorporated and 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 a ropax vessel for the service. The charter has commenced in late December 2013 and the contract is for three years with options to extend up to seven years. [30/12/13]
