Hon MICHAEL WOOD (Minister of Transport): I'm pleased to confirm that we're another step closer to replacing our ageing Interislander fleet. KiwiRail has now formally signed a contract with Korea's Hyundai Mipo Dockyard to build two new Interislander ferries. The new ferries are expected to arrive in New Zealand in 2025 and 2026, and will help reduce transport emissions and support more goods and people crossing the Cook Strait.