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Fastnet Lines service operating ferries from Swansea to Cork is to be discontinued with immediate effect.
Rising oil prices are believed to be behind the decision as Fastnet Lines is asked to put forward a restructured viable business plan.
The cost of fuel has increased by 27 per cent from 2010 to 2011 and by almost 50 per cent compared to the original budget established in 2009.
It is hoped that the service will be made available again on April 6th 2012, with a view to it continuing until September 29th 2012.
A company statement reads: "Fastnet Line apologises to its customers for any inconvenience that the short notice of the withdrawal of the service may cause."
The firm is hoping to secure the long-term future of the service in order to generate tourism income for both the south-west of Ireland and South Wales.
Ferry crossings offered by Fastnet Line are the only direct passenger and freight link between these two regions.
Posted by Mark Robinson