DRBA Sells Ferry for $750K - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

DRBA Sells Ferry for $750K

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LOWER TOWNSHIP, N.J. (AP) - The Delaware River & Bay Authority has sold a Cape May-Lewes Ferry that last ran in 2009 for $750,000.

The agency purchased the MV Cape May in 1985 for $14.5 million and remodeled it for $20 million in 1998.

DRBA spokesman Jim Salmon said the vessel was appraised at $1.6 million last August.

Salmon says the sale price does not include at least $530,000 worth of equipment and parts that were salvaged to be used on the other four ferries. Salmon says that could increase to $1.65 million if the new owner doesn't want the propeller shafts and rudders.

Dennis Township-based Northstar plans to convert the ferry into an oceangoing barge.

 

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