Bruny Island ferry future limbo after SeaLink indicates it will divest Australian tourism assets
The company behind the Bruny Island passenger ferry, SeaLink, has indicated a change in focus. Here’s what it means for Tasmanians.
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The Bruny Island Ferry service is looking for new owners after parent company Kelsian announced its intention to sell off all of its tourism assets.
Kelsian chair Fiona Hele said the management team undertook a “comprehensive strategic portfolio review” with the divestment of the tourism portfolio the best outcome for stakeholders.
Following the proposed divestment Kelsian will focus on delivering “essential journeys” keeping businesses under its banner that have more predictable earnings and cashflows.
“Many of the continuing businesses are underpinned by defensive long-term government-backed service contracts, with cost base protection, generating even more predictable earnings and cashflows,” Ms Hele said.
Kelsian owns SeaLink Tasmania which runs the vehicle ferry service to Bruny Island.
It also owns a range of resorts, tours and ferry services across the country with the tourism portfolio worth over $160 million in the 2024 financial year.
“The divestment of the Tourism Portfolio will see Kelsian emerge as a more infrastructure like, commuter and contracted business, allowing us to focus on delivering essential journeys through marine, bus and motorcoach transport,” Ms Hele said in a letter to shareholders.
“Many of the continuing businesses are underpinned by defensive long-term government-backed service contracts, with cost base protection, generating even more predictable earnings and cashflows.”
She said the tourism portfolio included market leading tourism centred businesses with “established market positions and robust growth potential”.
“We believe this is an appropriate time to consider their ownership and explore opportunities for these businesses to continue to grow with a new owner,” Ms Hele said.
Kelsian has appointed financial advisers to assist with the proposed divestment of tourism assets.
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Originally published as Bruny Island ferry future limbo after SeaLink indicates it will divest Australian tourism assets
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