Willie O'Dea (Limerick East, Fianna Fail)

The amount due in respect of the insurance payment for Asgard II is €3.8 million. As the Deputy will be aware, I have accepted the unanimous recommendation of the board of Coiste an Asgard not to proceed with a salvage operation. The main reason for that decision was that I considered that the risks were too great to commit to spending a sum in the region of €2 million at this time on a salvage effort where the outcome is uncertain. I also had to consider the cost of restoration, which cannot be accurately assessed until after the vessel is raised.

I have also stated that I propose to replace Asgard II with a new steel-hulled vessel. The cost of building such a vessel is not known at this stage. However, arrangements are under way to provide a limited cruise programme on the Creidne during the summer months this year. This vessel was used by Coiste an Asgard for sail training prior to Asgard II. It is now under the control of the Naval Service. A programme of extensive refurbishment of the Creidne is nearing completion and the vessel is expected to be available by May.

Coiste an Asgard has also entered into an arrangement whereby it will arrange for a number of Irish trainees to undergo sail training on board the Norwegian sail training vessel Christian Radich during the tall ships race.

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