new Spirit of Tasmania vessels and terminal project. The Tasmanian government has announced a $506 million financial bailout for TT-Line, the operator of the Spirit of Tasmania ferry service, amid escalating costs and delays in its fleet replacement program. Officials say the funding will be used to cover past capital cost overruns linked to the construction of new ferries and the under-construction Devonport terminal, rather than new operational spending. However, the project has faced significant criticism after reports of major delays, increased borrowing, and cost blowouts exceeding hundreds of millions of dollars. Opposition figures have described the outcome as a “catastrophic” burden on taxpayers, while the government maintains the investment is necessary to secure the long-term viability of a critical transport and tourism link between Tasmania and mainland Australia. TT-Line says the funding will stabilise its finances and allow it to manage long-term debt, though it is still facing significant repayment obligations over coming years.