City Newspaper Archives - 4/2007

FERRY: German firm buys our ship

Published by Tim Louis Macaluso on Apr 02, 2007
The city has reached a sale agreement on the ferry, Mayor Bob Duffy announced this afternoon. The buyer is the German firm Forde Reederei Seetouristik Gmbh & Co. KG (FRS), which will pay $30 million. FRS plans to use the ship on trips from Spain to Morocco. FRS's $3 million deposit will be held in escrow until the sale's closing, expected at the end of April. FRS has given the ship its sea trial and will make another inspection before closing. City Council and the Rochester Ferry Company must approve the sale.