The new Steam Packet vessel will be powered by what the Guinness World Records describes as the 'world's most efficient four-stroke diesel engine'.
Technology group Wartsila will supply the 'Manxman' vessel with two eight-cylinder and two ten-cylinder engines, which officials say are known for better fuel efficiency and reduced emissions.
The boat is being constructed from later this year at the Hyundai Mipo Shipyard in South Korea and is expected to replace the Ben-my-Chree in 2023.
Steam Packet Company Chief Executive, Mark Woodward, says: "This is a major investment in our fleet and the ultimate aim for when we introduce the new addition is to provide an even higher level of service to the Island community and our customers.
"Alongside our drive for greater efficiency and lower emissions levels, there is also an ever-increasing focus on the environmental aspects of marine transportation so we were naturally keen to select an engine that can deliver sustainable operations."
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