Irish Ferries has commissioned a shipyard to build "the world's largest cruise ferry" in a deal that will cost €100 million (£79 million) and boost the company's cargo capacity. The 50,000-tonne vessel will be launched on the Dublin-Hollyhead route in the spring of 2001, replacing the Isle of Inishmore.

Irish Ferries said the ship would marry state-of-the-art technology and engineering with high quality interior design and spaciousness, and represent a model for "multipurpose" vessels in the next century.

"Compared with any passenger ferry currently in existence, including the m.v. Isle of Inishmore - itself the largest ferry in northwest Europe - the new vessel will have a vastly larger vehicle-carrying capacity, and passenger facilities offering cruise-liner standards of luxury and comfort," the company said.

With a passenger capacity of 2,000, the vehicle deck will comprise more than four kilometres of lane space, providing room for a combination of 260 articulated trucks and trailers or 1,300 cars. While the passenger numbers increase somewhat, the business significance of the new vessel lies in the freight capacity, which is more than double that of the current ferry.

Because of its exceptional size, the new vessel will provide high standards of stability and comfort, even in extreme weather conditions, Irish Ferries said. It will have a speed of 22 knots, giving a sailing time between Dublin and Hollyhead of just over three hours.

"Operating in tandem with our new Dublin-Swift service, the new vessel will strengthen Irish Ferries' position as the short sea freight market leader on the Irish Sea, and will build upon our growing share of the passenger car market," said Mr Tony Kelly, the firm's marketing director.

The ship will be built by Aker Finnyards Oy, at its facility in Rauma, Finland.