May 22, 2025

Wellington, New Zealand – Ferry Holdings Limited is pleased to announce the appointment of Paul Silk as its new Interim Chief Executive, effective from 26 May 2025.

As an experienced leader in the management of public owned infrastructure, as well as capital and risk management in financial markets, Paul brings a wealth of knowledge and expertise to the role. Most recently, Paul served as Acting Chief Executive at Christchurch City Holdings.

“We are thrilled to welcome Paul to the team,” said Chris Mackenzie, Chair of Ferry Holdings. “Paul’s experience makes him the ideal candidate to lead our programme of work during the establishment phase of the new company.

As Interim Chief Executive, Paul will be responsible for overseeing the commercial negotiations to procure the two ferries, and port infrastructure agreements with CentrePort Wellington Limited (CentrePort Wellington) and Port Marlborough New Zealand Limited (Port Marlborough), which are to be completed by the end of this year.

“It is an exciting time to join Ferry Holdings and work with the team to deliver the first phase of the ferry procurement and finalising the arrangements for the required port infrastructure,” said Paul. “I look forward to working with the Ferry Holdings team and our other key partners over the coming months to lay a strong foundation for delivery.”

The Board is currently recruiting for the permanent Chief Executive, and this process is expected to be completed by the end of the year.

Chris Mackenzie
Chair
Ferry Holdings Limited
info@ferryholdings.co.nz
04 886 3440

Ferry Holdings Limited Background: 

• The Government is committed to safe, reliable and affordable Cook Strait ferry services. In March 2025, the Minister for Rail announced plans for the procurement of two new ferries that will serve people, cars, trucks, and rail across the Cook Strait, as well as straightforward infrastructure in Wellington and Picton which maximise reuse and minimise cost.   
• In December 2023, the Government declined further funding for Project iReX which sought to replace the Interislander ferries and upgrade the infrastructure. The costs for this Project had grown substantially to $3.1 billion. The Government has established Ferry Holdings to deliver a markedly cheaper deal for taxpayers by 2029.
• Ferry Holdings was incorporated in March 2025 to lead from 1 April 2025 the contractual negotiations with shipyards, ports, and any other party required to deliver safe, reliable and affordable inter-island asset replacements to serve the future.  
• Ferry Holdings is responsible for entering commercial shipyard procurement contracts and port agreements on infrastructure with CentrePort Wellington, Port Marlborough and any other party to enable the affordable delivery of ferries to enter service in 2029. Affordable means markedly cheaper than the cancelled Project iReX.