Fuel costs considered in Steam Packet purchase, says Minister

Treasury Minister Alf Cannan says the government took rising fuel costs into account when it decided to buy the Island's ferry company.

In the House of Keys this week, Douglas South MHK Kate Beecroft asked him if the costs of low sulphur fuel, being introduced in 2020, had been included before buying out the Steam Packet Company.

Mr Cannan said Park Partners, which had valued the firm in the run-up to the £124 million deal announced earlier this year, knew about the rising price.

And he added the costs will be managed as part of normal trading considerations.