The Sealink Travel Group Ltd (ASX: SLK) share price may have hit rough waters this year, but today it is finally heading in the right direction.
In afternoon trade the tourism and transport company's shares are up 2.5% to $4.16.
Why are its shares higher?
This morning SeaLink announced that it is expanding operations on Sydney Harbour after being given the green light by the NSW State Government to commence operation of the Barangaroo Fast Ferry.
The Barangaroo Fast Ferry will be the first ever direct ferry service from Manly to Barangaroo and is due to start operating as soon as next month.
Departing every 30 minutes during peak hour, the service will cut commuter travel time from Manly to Barangaroo significantly.
Despite today's gain, SeaLink's shares are down over 9% year-to-date due largely to a weak half-year result in February.
