Kelsian shares lift despite delay on new Kangaroo Island Ferries
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More news: Shares in Kelsian lifted in afternoon trade after the transport services and tourism group said its two new larger Kangaroo Island ferries would be pushed back to the start of financial year 2027.
By 2:28pm AEST, Kelsian shares had lifted 1.41% to $5.04. Over the past 12 months its shares have risen 24.44%.
Kelsian said its guidance for FY26 underlying EBITDA was unchanged following the delay as it announced measures to alleviate peak season capacity constraints and a period of discounted fees for Kangaroo Island residents.
Kelsian announces delayed start for new Kangaroo Island Ferries to FY27
The news: Transport services and tourism group Kelsian has flagged that the start of two new larger ferries to Kangaroo island, Wanggami and Ruwi, has been delayed to the start of financial year 2027.
The context: The two new ferries were initially expected to commence in 2025, but the commencement date for the South Australian Department for Infrastructure and Transport’s contract for the new Kangaroo Island Ferry Service will now start on 1 June 2026.
This is due to delays in vessel delivery dates and the desire to minimise disruptions over the peak summer period over December and January, the Kangaroo Island Cup Carnival in February and the Easter holidays.
Kelsian said there is no change to its FY26 underlying EBITDA guidance of between $297 million and $310 million.
To alleviate capacity constraints over the peak season, Kelsian “intends to provide a weekday schedule with a minimum of eight return departures per weekday”, which is an increase from seven.
Kangaroo Island residents will receive discounted fares from November 2025 until the new ferries are introduced in June 2026.
Further services offering discounts will also be applied to residents after that date and fares for livestock freight travel will be held at current prices between 1 June 2026 and 31 December 2026.
The source: ASX
