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StraitNZ

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StraitNZ Limited
FormerlyStrait Shipping
Bluebridge
IndustryPassenger and freight shipping, freight forwarding and logistics
PredecessorStrait Shipping, Streamline Freight, Freight Lines
Founded1992
FounderJim Barker and Dennis Dow
HeadquartersWellington, New Zealand
Area served
New Zealand
RevenueNZ$175 million (2021)
NZ$45 million (2021)
Number of employees
500 (2021)
ParentMorgan Stanley Infrastructure Partners (2022–present)
SubsidiariesBluebridge
StraitNZ Freight Forwarding
StraitNZ Linehaul
Websitewww.straitnz.co.nz

StraitNZ, formerly Strait Shipping and Bluebridge, is a New Zealand transport firm that operates roll-on/roll-off freight and passenger shipping across the Cook Strait, between Wellington in the North Island and Picton in the South Island, as well as trucking and logistics services across New Zealand.[1]

Originally a freight-only service, passenger services commenced in 2002 and currently operate under the Bluebridge brand.[2][3] As of 2021, Bluebridge holds 56% of the market for vehicle freight and 31% of the market for passenger services across Cook Strait.[4]

The company was acquired on March 31, 2022 by Morgan Stanley Infrastructure Partners.[5]

History

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The company has its origins in Otorohanga Transport, founded by Jim Barker and Dennis Dow in 1963.[6]

Inter-island ferry operations began in 1992 as Strait Shipping Limited,[3] as a way for Barker to provide more affordable inter-island ferry services for his trucking group. Ferries between the North and South Islands of New Zealand were then monopolised by the Interisland Line, owned by the then state-owned enterprise New Zealand Rail (privatised in 1993 and renamed Tranz Rail in 1995). As of 2022, the two companies still hold a duopoly on interisland ferry services.

As well as operating across the Cook Strait between Wellington and Picton, Strait Shipping has in the past also operated freight shipping between Wellington and Napier, also in the North Island, and Nelson and Lyttelton in the South Island.

Bluebridge was launched as the passenger service brand of Strait Shipping in 2003.[7]

In 2016, Strait Shipping was sold to Australian-based Champ Private Equity Group.[8][7] At the same time, Champ Group also purchased trucking companies Freight Lines and Streamline Freight, which had both been separately owned by the Barker family.[7] At the time, the trucking and ferry companies owned by the Barker family were estimated to employ around 750 people.

On 29 March 2018 Strait Shipping Limited was renamed StraitNZ,[9] with passenger services continuing to operate under the Bluebridge brand.[1] Sister companies Freight Lines and Streamline [7] were rebranded as "StraitNZ Linehaul" and "StraitNZ Freight Forwarding"[1] respectively. That year, a 25% stake in the company was acquired by Macquarie.

In December 2021, the StraitNZ Group was sold by Champ Private Equity and Macquarie to Morgan Stanley Infrastructure Partners, for a reported sale price of NZ$500 million.[10] The acquisition was completed in March 2022.

As of 2021, StraitNZ’s Bluebridge ferry unit was reported to have a 56% market share for Cook Strait vehicle freight, and a 31% market share for passenger services. The remaining share is held by Interislander, a subsidiary of New Zealand Government-owned KiwiRail.[4]

Wellington ferry terminal redevelopment

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In 2020, following two years of discussion with stakeholders, Greater Wellington Regional Council announced that it had chosen Kaiwharawhara as its preferred site for a new ferry terminal. The terminal will be built on land owned by KiwiRail, CentrePort and the NZ Transport Agency. Interislander plans to introduce new hybrid electric ferries that are 30 m (98 ft) longer than those currently in operation.[11] The new terminal will be able to accommodate the larger ferries and will replace the two separate terminals currently used by StraitNZ and the Interislander.[12] In addition, CentrePort will be able to make changes to the layout of its other port operations. The plan includes a wharf about 250 m (820 ft) long, a ferry terminal building, changes to road, rail and pedestrian access, and marshalling and loading areas.[13] The panel that approved the project called it the biggest rail capital project since World War 2.[11]

Site preparation began, but the cost of the project increased significantly. In December 2023, the new Finance Minister, Nicola Willis, declined extra funding to KiwiRail for its proposed new ferries and terminal infrastructure, and as of January 2024 the project is stalled while the parties involved consider their options.[14][15]

Fleet

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Current fleet

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Name Image Shipyard Launched Entered service Port of registry Tonnage Notes
Strait Feronia Italy Cantiere Navale Visentini, Porto Viro, Italy 1997 2015 New Zealand Wellington, New Zealand 21,856 GT [16]
Connemara Italy Cantiere Navale Visentini, Porto Viro, Italy 2007 2023 The Bahamas Nassau, Bahamas 27,414 GT [17]

Historic fleet

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Name Image Shipyard Launched Entered service Retired from service Tonnage Notes
Straitsman (1972) Australia NQEA, Cairns, Australia 1972 1992 2004 1,481 GT Strait Shipping's first vessel. Used to transport livestock, Straitsman launched Strait Shipping's service across Cook Strait between Wellington, Picton and Nelson. In service until replaced by Santa Regina in 2002.[16]
Suilven Norway Moss Verft, Moss, Norway 1974 1995 2004 3,638 GT [16]
Kent Japan Ishikawajima-Harima Shipyard, Tokyo, Japan 1977 2001 2010 6,862 GT [16]
Santa Regina France Ateliers et Chantiers du Havre [fr], Le Havre, France 1985 2002 2015 14,588 GT [16]
Monte Stello France Ateliers et Chantiers du Havre [fr], Le Havre, France 1979 2006 2010 11,630 GT Lost power in Tory Channel on 2 May 2008.[16][18]
Straitsman (2005) Netherlands Volharding Shipyards [nl], Netherlands 2005 2010 2023 13,906 GT Now operated by Condor Ferries in the United Kingdom

References

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  1. ^ a b c "Strait NZ – Our Story". Archived from the original on 4 May 2019. Retrieved 10 May 2019.
  2. ^ "Bluebridge – About Us". Archived from the original on 8 June 2015. Retrieved 10 May 2019.
  3. ^ a b "The Strait Shipping story". Strait Shipping. Archived from the original on 10 February 2015. Retrieved 7 February 2015.
  4. ^ a b "John Haddock's CPE Capital sells Jaybro, StraitNZ for $1.1b". Australian Financial Review. 21 December 2021. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  5. ^ "Morgan Stanley Infrastructure Partners Completes Investment in StraitNZ Holdings Limited". Business Wire. Archived from the original on 19 December 2022. Retrieved 19 December 2022.
  6. ^ Charles Riddle (9 September 2016). "Obituary: Transport giant Jim Barker's legacy will be felt for decades to come". Stuff.co.nz. Archived from the original on 9 May 2019. Retrieved 10 May 2019.
  7. ^ a b c d Chloe Winter (6 December 2016). "New Zealand transport companies sold, new owner eyes growth". Stuff.co.nz. Archived from the original on 9 May 2019. Retrieved 10 May 2019.
  8. ^ "Australian Company Buys Cook Strait Ferries". Otago Daily Times. 6 December 2016. Archived from the original on 10 May 2019. Retrieved 10 May 2019.
  9. ^ "Particulars of Name Change". Companies Office. 29 March 2018. Archived from the original on 5 April 2023. Retrieved 10 May 2019.
  10. ^ "StraitNZ owner sells ferry and freightforwarding business – reports". Radio New Zealand. 22 December 2021. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  11. ^ a b Knell, Conor; Fuller, Piers (25 January 2023). "Wellington harbour to get new wharf, ferry terminal building". Stuff. Archived from the original on 1 June 2023. Retrieved 1 June 2023.
  12. ^ "Kaiwharawhara makes cut as site for new multi user ferry terminal". Greater Wellington Regional Council. 24 February 2022. Archived from the original on 1 June 2023. Retrieved 1 June 2023.
  13. ^ "Kaiwharawhara Wellington Ferry Terminal Redevelopment". Ministry for the Environment. 11 February 2022. Archived from the original on 1 June 2023. Retrieved 1 June 2023.
  14. ^ Hunt, Tom (24 January 2024). "Cost blowout warnings years before Interislander project keeled over". The Press. Retrieved 24 January 2024.
  15. ^ Campbell, Georgina (7 December 2023). "KiwiRail's Cook Strait ferry cost blowout lands with Nicola Willis". NZ Herald. Retrieved 24 January 2024.
  16. ^ a b c d e f "Our Company – Bluebridge". www.bluebridge.co.nz. Archived from the original on 20 September 2022. Retrieved 20 September 2022.
  17. ^ "Stena RoRo's CONNEMARA reportedly off to a new life with New Zealand's StraitNZ's Bluebridge Cook Strait Ferries". Shippax. Halmstad. 11 November 2022. Archived from the original on 1 December 2022. Retrieved 1 December 2022.
  18. ^ "Passenger Ferry Monte Stello, Loss of Power, Tory Channel, 2 May 2008". Transport Accident Investigation Commission. 25 March 2010. Archived from the original on 10 May 2019. Retrieved 10 May 2019.
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