United States
United Kingdom
Canada
Australia
New Zealand
IrelandNew Spirit of Tasmania ferries launch under a billion-dollar debt cloud
ABC's 7.30 examines the delayed passenger launch, disputed solvency concerns and the tourism businesses waiting for the ships to arrive.
ABC News In-depth
Story of Why this story? One of ABC News In-depth's most watched videos since yesterday, with 102,604 views.
New Spirit of Tasmania ferries setting sail with a boat-load of debt | 7.30
Things we can learn from the video
Press to jump
- 0:08Ken Kanofski shows upgraded passenger cabins and dining areas aboard a new ferry.
- 1:19Pub owner Scott Seymour describes expanding his venue in anticipation of more visitors.
- 1:36ABC traces delays involving manufacturer bankruptcies, unfinished Devonport berths and prolonged docking elsewhere.
- 3:28The report examines solvency concerns, government funding and TT-Line's position that it remained solvent.
- 4:43ABC puts projected debt above a billion dollars and examines plans to sell the outgoing fleet.
- 6:17Residents watch the departing vessels while local businesses look toward the new service.
Two new Spirit of Tasmania ferries are due to carry passengers this weekend, ending almost a decade of waiting. But according to ABC's 7.30 report, their operator faces projected debt of $1.1 billion as the service finally gets under way.
Adam Langenberg's report begins aboard one of the new vessels, where TT-Line chair Ken Kanofski shows upgraded cabins and dining spaces. The ships offer more vehicle capacity, particularly for caravans. Kanofski says the opening day of bookings brought about ten times the company's normal daily sales.
The government-owned service connects Geelong in Victoria with Devonport in Tasmania across Bass Strait. For businesses on Tasmania's northwest coast, the extra capacity represents visitors they have already spent money preparing to welcome. Pub owner Scott Seymour describes expanding his facilities after repeated encouragement to be ready for the new ships.
ABC traces the delays through manufacturer bankruptcies, unfinished berths at Devonport and extended periods with the vessels docked elsewhere. The report says storage costs ran into millions of dollars a month while the ships remained underused.
It also examines an ASIC referral concerning TT-Line's solvency and government funding interventions. Shadow Treasurer Dean Winter argues that the company cannot meet debts when they fall due. Kanofski says advice received by TT-Line found it had remained solvent throughout; Infrastructure Minister Kerry Vincent says the government is comfortable with the advice presented to it.
Kanofski acknowledges that substantial debt will remain for roughly another decade. ABC also examines plans to sell the outgoing ferries, before returning to coastal residents watching the old vessels finish their service and merchants hoping the long-awaited arrivals will bring more visitors.
Published on Trari
Where next?
Is this your channel?For the channel's owners and team: a ready picture and text for your audience
Share the story with your audience. Everything is ready:
For an Instagram story or a WhatsApp status
For a community post or your channel's description
- Channel
- ABC News In-depth
- Subscribers
- 2,460,000
- Channel views, last 7 days
- 5,332,298
- Channel views, pace per day
- 679,249 (on a normal day: 854,348)
- Video published
- October 29, 2026
- Video views so far
- 102,604 (less than a day online)
- Video views, pace per day
- 119,220
The numbers
ABC News In-depth's ferry report drew about 103,000 views since yesterday, the most among its new uploads.
💡 Test your knowledge
Which stretch of water do the Spirit of Tasmania ferries cross?
The ferries cross Bass Strait between Victoria and Tasmania.