56369 (2025). Tangi Utikere to the Minister for Rail

56369 (2025). Tangi Utikere to the Minister for Rail: What due-diligence checks were completed to confirm that Guangzhou Shipyard International can deliver both ferries in 2029, and what contractual penalties apply if the ships are delivered late, if any?

Rt Hon Winston Peters: Ferry Holdings and its advisors undertook phased due diligence of shipyards invited into the request for proposals process. This process included site visits and review of shipyards design and production capabilities and references, health and safety management and quality assurance processes. Ferry Holdings conducted a detailed corporate and financial due diligence of the shipyards that were shortlisted for the Best and Final Offer. The due diligence process confirmed that Guangzhou Shipyard International has the necessary technical capabilities and corporate/financial structure to deliver the new ferries by 2029. The shipbuilding contracts with Guangzhou Shipyard International include liquidated damages provisions for late delivery in line with industry best practice.