According to local reports, the regional government is prepared to allocate a €3 million compensation allowance on a three-year service that can guarantee ferrying passengers, vehicles and cargo between the two cities in under 24 hours.
The procedure has reportedly already been given the green light by Brussels and will move forwards within the coming weeks.
Terms and conditions stipulate the new operator must carry out at least one non-stop connection between Portimão and Funchal a week, at a compulsory speed of at least 39 kilometres per hour, to complete the journey in less than 24 hours, and with a capacity for at least 300 people.
Specifications for the ferry’s measurements were also listed, and state it must be 175 metres long at most, and its hull no bigger than 6.5 metres to ensure it fits in Funchal port.
One of the main aims is that the ferry will transport fresh produce between the island and the mainland in a shorter time than current options, slashing prices for the end consumer.
This is the second international tender launched under the government of Miguel Albuquerque, who has been in power since April 2015.
The first tender was closed in January 2016 after no deal was reached with any of the seven international ferry operators – Transinsular and ENM (both Portuguese), FRS (Germany), Grandi Navi Veloci (Italy), Hellenic Shipping (Greece), Matrix Marine (Cyprus) and Naviera Armas (Spain) – allegedly after interest fell thought due to the seasonality of the route and the size of the regional market.
The aforementioned companies reportedly also said that without the guarantee of a compensation allowance, the operation was not viable.