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SuperCat buys new vessel for $1.7M
Date Posted: 10/17/2007

  
SuperCat Fast Ferry Corporation (SFFC), owner and operator of the inter-island SuperCat vessels, announced today its purchase of a new vessel for $1.75M.

The new vessel was purchased from Uri Express of Korea and will be delivered this week. She will be re-named as Supercat 25.

It was purchased to replace the SuperCat 21 which was returned to the lessor, and shall serve the Cebu/Ormoc run."

She is expected to commence service by November 1.

It has a capacity of 226 passengers, is very fuel-efficient and has a simple propulsion system.

Previously called M/V SMART, the vessel was built in Balamban, Cebu in 2001 by FBMA Marine, Inc., another Aboitiz subsidiary.

Supercat operates four vessels in three ports of call: Supercats 20 and 23 operate in Batangas, Supercat 25 in Ormoc and Supercat 22 in Tagbilaran.

SFFC is a fully owned subsidiary of Aboitiz Transport System, which celebrates its 100th year since the purchase of the first Aboitiz ship in 1907 – the MV Picket.

The vessel purchase is part of a greater strategy to build “a new ATS - essentially characterized as being debt free, and achieved by liquidating debt, removing interest costs, rationalizing cost structures, and increasing the earning capacity of all its assets.”

For more information, call (032) 233-7000, email scat-customercare@SuperCat.com.ph, or visit www.SuperCat.com.ph.