Following a joint bid with Belaire Ferries, the parties have won Auckland Transport's Western Package Ferry Contracts for passenger ferry services and associated vessel maintenance on Auckland Harbour. Services will commence on 1 July 2027 for an initial seven-year term, with a two-year extension option, and are expected to generate approximately NZD 101 million (AUD 83 million) in revenue over the initial term. The contracts include revenue indexation mechanisms protecting Kelsian from fluctuations in key cost inputs such as diesel fuel.

The contracts will involve the operation and maintenance of an initial fleet of six vessels, comprising four currently owned by Belaire Ferries and two existing Kelsian vessels to be relocated from Australia to Auckland ahead of service commencement. Kelsian will procure a new passenger ferry for its South-East Queensland marine operations to replace the two vessels being transferred.

As part of its contract commitments, Kelsian has undertaken to procure five new ferries over the contract term to replace the initial fleet. The first new vessel is expected to enter service in mid-2028, with the remainder following between 2029 and 2032. The total estimated capital cost of the five vessels is NZD 38 million (AUD 31 million), which Kelsian expects to fund through a limited recourse ringfenced financing vehicle.

Under the separately announced acquisition, Kelsian will purchase 100 per cent of Belaire Ferries for a total price of NZD 8.9 million (AUD 7.3 million), comprising upfront cash consideration of NZD 2.8 million (AUD 2.3 million) and deferred and contingent consideration estimated at NZD 6.1 million (AUD 5.0 million) payable during FY2027–FY2029 if certain milestone conditions are met. Belaire Ferries currently operates the West Harbour and Rakino Island ferry services on Auckland Harbour.

The acquisition will be funded from existing cash reserves and is expected to complete in the first quarter of FY27, subject to customary conditions precedent including change of control consents. Belaire Ferries founder Adam Tallentire will assist Kelsian with integration and the transition to the new contracts.

Kelsian Group CEO Graeme Legh said the company was delighted to have secured its first contract in New Zealand, reflecting its capability as a leading global multi-modal transport operator. He added that the long-term contract package, together with the acquisition, established a strategically important platform positioning Kelsian to pursue further growth opportunities in the New Zealand market.

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