The MV Theresa belongs to the Pacific Royale Shipping Group Ltd of Vanuatu, whose agent in Tonga is Jaws Shipping.

Tapu Panuve, the Chairman of FISA said that they have reached an agreement with the Pacific Royale Shipping's agent in Tonga, Jaws at a purchasing price of NZD$936,000. 

He said that FISA had signed a 10-percent deposit with Jaws, giving the shipping company two-weeks to complete all transaction documentation. "If all goes well, we will then proceed and make the final acquisition," said Tapu. 

Tapu said that within a month or two they should be able to confirm the sailing schedule for the vessel. Meanwhile, the vessel is being repainted and it will be renamed, and rebranded to FISA’s shipping colours before it starts its operation in March.  

"This brings to a satisfactory conclusion FISA's efforts to identify a suitable cargo ship to compliment its existing service to the outer and regional islands. This transaction will assist Government's efforts to assist growers with the shipment of their produce to relevant overseas markets," said Tapu.

He also stressed that a thorough due diligence exercise was conducted by FISA with independent surveyors from Auckland – Dunnsford Marine, class surveyor – DNV and the Tonga Maritime Authority.

From August 2011 until recently, MV Theresa ran a cargo service for Jaws Shipping bet ween New Zealand, Vava'u and Ha'apai.

Suitable

Vaka’utapola Vi, the CEO  of FISA stressed that the MV Theresa was the most suitable for Tonga, out of five vessels that they looked at in Auckland, PNG and the Caribbean.

He said they selected the MV Theresa because it was already in Tonga and negotiation for its acquisition was easier, because it had an agent in Nuku'alofa. Some of those ships were also run-down and needed repairs.

The general cargo vessel has a gross-tonnage of around 591 with a dead weight of 433.

The Government of Tonga is the main shareholder in FISA, which is currently operating the inter-island ferry, the MV 'Otuanga'ofa. 

Jaws

Tonga Customs last year seized the MV Theresa after it was spotted allegedly transferring undeclared customs goods on Nuku'alofa waters. One of its directors Joseph Ramanlal and the captain were charged in relation to the incident and have pending cases in court.

Tapu said the advice they have received from Crown Law that there is no longer a seizure notice on the MV Theresa.

"Our agreement is that when the vessel is delivered to FISA it would be debt-free, and that is why there is a two-weeks period for the shipping company to finalise their business before we make the final acquisition," said Tapu.