Derecktor Shipyards in Bridgeport, Connecticut will deliver Bermuda?s newest 350-passenger high speed ferry by June next year at a cost of $4.99 million.

Marine and Ports Director, Barry Coupland said yesterday the new 124-foot-long ferry was almost double the size of the and fast ferries purchased in 2004 for just over $2.65 million each.

These two smaller catamaran ferries are 74 feet long with a top speed of eight to nine knots and a maximum capacity each of 177 passengers. The new ferry has a top speed of 33 knots (38 mph) with a full load.

Mr. Coupland repeated his earlier statement that Derecktor had offered ?the best boat, best price and best delivery? in their bid, adding that the size, speed and capabilities of the new vessel addressed the growing needs of Bermuda?s tourist market.

While the four catamarans currently in service handle the commuter services in the morning and afternoon without any problems, at the height of summer there was more ?buzz? around and with the increase in the number of ?mega? cruise ships calling in Dockyard, there was a greater need for a bigger ferry to handle the masses.

There have been complaints in the past from the cruise ship industry at the lack of public transport from Dockyard to Hamilton and St. George?s when ?mega? ships like the was in Dockyard.

Four diesel engines and four water jets will power the ferry, which will feature a food service area and outdoor and indoor seating.

It will also be accessible to people with disabilities.

The new ferry will also service the East End of the Island?s commuter route.

?We are entrusted with a lot of money and we need to ensure that we get the very best results and the best delivery,? Mr. Coupland said.

With more a record number of cruise passengers expected next year, Mr. Coupland said it was vital the new ferry arrive by June next year.

The build delivery phase of the new ferry, he said, was 33 weeks ? another reason the Government chose the company in Connecticut.